Portside Wealth Group LLC Buys Shares of 6,614 Virtu Financial, Inc. $VIRT

Portside Wealth Group LLC purchased a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) in the second quarter, Holdings Channel.com reports. The fund purchased 6,614 shares of the financial services provider’s stock, valued at approximately $296,000.

Several other institutional investors have also recently made changes to their positions in VIRT. Invesco Ltd. grew its position in Virtu Financial by 83.6% in the first quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider’s stock worth $56,157,000 after acquiring an additional 670,774 shares during the period. Nuveen LLC purchased a new position in shares of Virtu Financial during the 1st quarter worth $18,956,000. AQR Capital Management LLC increased its position in shares of Virtu Financial by 50.9% during the 1st quarter. AQR Capital Management LLC now owns 1,320,356 shares of the financial services provider’s stock worth $49,764,000 after purchasing an additional 445,586 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Virtu Financial by 69.5% in the 1st quarter. Allianz Asset Management GmbH now owns 1,063,011 shares of the financial services provider’s stock valued at $40,522,000 after buying an additional 435,958 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Virtu Financial in the first quarter valued at about $9,918,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Virtu Financial Stock Down 1.9%

Shares of VIRT opened at $33.87 on Thursday. The company’s 50-day simple moving average is $34.49 and its 200-day simple moving average is $39.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49. Virtu Financial, Inc. has a 1 year low of $31.89 and a 1 year high of $45.77. The stock has a market capitalization of $5.18 billion, a PE ratio of 9.79, a P/E/G ratio of 1.14 and a beta of 0.60.

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

Virtu Financial Dividend Announcement

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

Wall Street Analyst Weigh In

VIRT has been the subject of a number of recent analyst reports. UBS Group reiterated a “neutral” rating and set a $45.00 price target (up from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Bank of America raised shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group cut their target price on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company 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.