Allianz Asset Management GmbH Has $41.81 Million Position in Virtu Financial, Inc. $VIRT

Allianz Asset Management GmbH lessened its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 2.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,177,658 shares of the financial services provider’s stock after selling 25,189 shares during the period. Allianz Asset Management GmbH’s holdings in Virtu Financial were worth $41,807,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Virtu Financial by 23.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,183,268 shares of the financial services provider’s stock worth $40,373,000 after purchasing an additional 222,862 shares during the last quarter. Bank of America Corp DE lifted its stake in Virtu Financial by 4.2% in the second quarter. Bank of America Corp DE now owns 913,372 shares of the financial services provider’s stock valued at $40,910,000 after buying an additional 36,640 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Virtu Financial by 21.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 594,867 shares of the financial services provider’s stock worth $26,644,000 after buying an additional 103,528 shares during the last quarter. First Trust Advisors LP boosted its holdings in Virtu Financial by 170.7% during the second quarter. First Trust Advisors LP now owns 555,712 shares of the financial services provider’s stock worth $24,890,000 after buying an additional 350,401 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its position in shares of Virtu Financial by 12.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 548,127 shares of the financial services provider’s stock worth $24,551,000 after buying an additional 62,570 shares during the period. Institutional investors own 45.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VIRT. Piper Sandler increased their price target on shares of Virtu Financial from $51.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Morgan Stanley lifted their price target on shares of Virtu Financial from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group boosted their price target on shares of Virtu Financial from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Bank of America raised Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.00.

Virtu Financial Stock Up 1.1%

Shares of VIRT stock opened at $38.22 on Friday. Virtu Financial, Inc. has a 12-month low of $31.55 and a 12-month high of $45.77. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The firm has a fifty day moving average of $35.28 and a 200-day moving average of $36.77. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.14 and a beta of 0.61.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.12 by $0.73. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The business had revenue of $969.89 million for the quarter, compared to analysts’ expectations of $513.51 million. During the same period in the previous year, the firm posted $1.14 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts predict that Virtu Financial, Inc. will post 3.13 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, February 27th. Virtu Financial’s dividend payout ratio (DPR) is currently 18.71%.

Virtu Financial Profile

Virtu Financial, Inc (NASDAQ: VIRT) is a leading global electronic trading firm specializing in market making, liquidity provision and trade execution services across a broad range of asset classes. Leveraging advanced quantitative models and proprietary trading technology, Virtu provides continuous bid and ask quotes in equities, fixed income, foreign exchange, commodities and digital assets. The firm’s infrastructure is designed to operate at high speeds and low latencies, enabling tight spreads and efficient price discovery for its clients.

In addition to its market-making activities, Virtu offers agency execution services, algorithmic trading strategies and transaction cost analysis tools.