The Goldman Sachs Group Boosts Virtu Financial (NASDAQ:VIRT) Price Target to $29.00

Virtu Financial (NASDAQ:VIRT) had its target price increased by The Goldman Sachs Group from $26.00 to $29.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

VIRT has been the topic of a number of other research reports. Citigroup increased their price target on Virtu Financial from $26.00 to $32.00 and gave the stock a buy rating in a research report on Friday, July 19th. UBS Group increased their price target on Virtu Financial from $18.00 to $24.00 and gave the stock a neutral rating in a research report on Monday, July 1st. Bank of America increased their price target on Virtu Financial from $25.00 to $37.00 and gave the stock a buy rating in a research report on Monday, July 22nd. StockNews.com upgraded Virtu Financial from a sell rating to a hold rating in a research report on Wednesday, June 19th. Finally, Piper Sandler increased their target price on Virtu Financial from $25.00 to $31.00 and gave the company an overweight rating in a report on Friday, July 19th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $27.79.

Virtu Financial Stock Up 1.6 %

Shares of VIRT opened at $31.18 on Monday. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $32.88. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.48 and a beta of 0.38. The stock’s 50-day moving average price is $30.01 and its 200-day moving average price is $25.06.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.23. The firm had revenue of $385.10 million for the quarter, compared to the consensus estimate of $331.92 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, sell-side analysts predict that Virtu Financial will post 2.47 EPS for the current year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.24 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 3.08%. Virtu Financial’s dividend payout ratio is presently 67.13%.

Insider Activity at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the sale, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Virtu Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Virtu Financial in the second quarter valued at approximately $503,000. Truist Financial Corp increased its stake in Virtu Financial by 14.9% during the second quarter. Truist Financial Corp now owns 23,766 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 3,078 shares during the last quarter. Quarry LP increased its stake in Virtu Financial by 129.1% during the second quarter. Quarry LP now owns 6,130 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 3,454 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Virtu Financial by 26.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 267,474 shares of the financial services provider’s stock worth $6,005,000 after acquiring an additional 55,550 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in Virtu Financial during the second quarter worth $395,000. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Company Profile

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.