Virtu Financial, Inc. (NYSE:VIRT – Get Free Report) declared a quarterly dividend on Thursday, July 30th. Investors of record on Tuesday, September 1st will be given a dividend of 0.24 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 1st.
Virtu Financial has a dividend payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Virtu Financial to earn $5.57 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 17.2%.
Virtu Financial Stock Down 0.9%
Shares of NYSE:VIRT opened at $58.65 on Friday. The stock has a fifty day simple moving average of $58.18 and a two-hundred day simple moving average of $48.75. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 0.39 and a beta of 0.58. Virtu Financial has a 12-month low of $31.55 and a 12-month high of $68.02. The company has a current ratio of 1.11, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.
Insider Buying and Selling at Virtu Financial
In related news, COO Brett Fairclough sold 30,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $50.06, for a total transaction of $1,501,800.00. Following the transaction, the chief operating officer owned 42,473 shares in the company, valued at $2,126,198.38. This represents a 41.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 46.76% of the stock is owned by insiders.
Institutional Investors Weigh In On Virtu Financial
A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in shares of Virtu Financial by 64.2% in the 3rd quarter. Invesco Ltd. now owns 2,370,400 shares of the company’s stock worth $84,149,000 after buying an additional 926,376 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Virtu Financial by 41.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,928,509 shares of the company’s stock valued at $85,607,000 after acquiring an additional 569,057 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Virtu Financial by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,920,590 shares of the company’s stock valued at $84,458,000 after acquiring an additional 19,888 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Virtu Financial by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,395,686 shares of the company’s stock valued at $46,514,000 after acquiring an additional 14,113 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Virtu Financial by 53.1% in the third quarter. Qube Research & Technologies Ltd now owns 1,367,583 shares of the company’s stock valued at $48,549,000 after acquiring an additional 474,177 shares during the period. 45.78% of the stock is currently owned by hedge funds and other institutional investors.
About Virtu Financial
Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.
The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.
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