Portside Wealth Group LLC Takes $296,000 Position in Virtu Financial, Inc. $VIRT

Portside Wealth Group LLC bought a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,614 shares of the financial services provider’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VIRT. Empowered Funds LLC increased its holdings in Virtu Financial by 54.1% in the 2nd quarter. Empowered Funds LLC now owns 78,162 shares of the financial services provider’s stock worth $3,501,000 after acquiring an additional 27,440 shares in the last quarter. ANB Bank acquired a new stake in shares of Virtu Financial in the second quarter valued at about $266,000. Cetera Investment Advisers increased its stake in shares of Virtu Financial by 12.2% during the second quarter. Cetera Investment Advisers now owns 37,526 shares of the financial services provider’s stock worth $1,681,000 after purchasing an additional 4,080 shares in the last quarter. Creative Planning purchased a new stake in shares of Virtu Financial during the second quarter worth about $235,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Virtu Financial by 7.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,734 shares of the financial services provider’s stock worth $929,000 after purchasing an additional 1,399 shares during the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Virtu Financial Stock Down 1.9%

VIRT stock opened at $33.87 on Thursday. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.14 and a beta of 0.60. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. Virtu Financial, Inc. has a 12 month low of $31.89 and a 12 month high of $45.77. The firm has a 50-day moving average of $34.49 and a two-hundred day moving average of $39.55.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share for the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.The business had revenue of $274.00 million for the quarter. As a group, analysts forecast that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, December 1st. Virtu Financial’s dividend payout ratio is presently 20.78%.

Wall Street Analyst Weigh In

VIRT has been the topic of several research analyst reports. Bank of America upgraded Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, October 28th. UBS Group restated a “neutral” rating and issued a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Finally, The Goldman Sachs Group lowered their price target on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and a consensus price target of $41.71.

About Virtu Financial

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.