Virtu Financial (NYSE:VIRT) Stock Price Target Raised at JPMorgan Chase & Co.

Virtu Financial (NYSE:VIRT – Free Report) had its target price lifted by JPMorgan Chase & Co. from $84.00 to $88.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

VIRT has been the subject of several other reports. Morgan Stanley reduced their price objective on Virtu Financial from $57.00 to $56.00 and set an “underweight” rating for the company in a research report on Friday, October 9th. Piper Sandler restated an “overweight” rating on shares of Virtu Financial in a research report on Friday, October 2nd. Evercore raised Virtu Financial to an “outperform” rating in a research note on Monday, October 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Virtu Financial in a research report on Wednesday, August 26th. Finally, Zacks Research cut Virtu Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 24th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Virtu Financial has an average rating of “Hold” and an average target price of $69.25.

Read Our Latest Research Report on VIRT

Virtu Financial Trading Up 0.3%

Virtu Financial stock opened at $54.05 on Friday. Virtu Financial has a 52-week low of $31.55 and a 52-week high of $68.76. The company has a quick ratio of 0.49, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 0.39 and a beta of 0.67. The firm has a 50-day moving average price of $57.63 and a two-hundred day moving average price of $52.43.

Virtu Financial (NYSE:VIRT – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.52 by $0.25. Virtu Financial had a net margin of 14.20% and a return on equity of 49.68%. The company had revenue of $956.39 million for the quarter, compared to analyst estimates of $647.02 million. During the same quarter last year, the business earned $1.05 earnings per share. Virtu Financial’s revenue was up 147.1% compared to the same quarter last year. Sell-side analysts expect that Virtu Financial will post 6.46 earnings per share for the current year.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, December 1st. Virtu Financial’s dividend payout ratio (DPR) is presently 14.10%.

Insider Buying and Selling

In other Virtu Financial news, Director John Nixon sold 9,094 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $60.13, for a total value of $546,822.22. Following the transaction, the director owned 30,902 shares of the company’s stock, valued at approximately $1,858,137.26. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph J. Grano, Jr. sold 8,400 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $60.94, for a total value of $511,896.00. Following the completion of the transaction, the director directly owned 33,814 shares in the company, valued at $2,060,625.16. This represents a 19.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 46.76% of the company’s stock.

Hedge Funds Weigh In On Virtu Financial

A number of hedge funds have recently modified their holdings of the stock. Wellington Grp LLC boosted its stake in Virtu Financial by 59.0% in the 3rd quarter. Wellington Grp LLC now owns 26,174 shares of the company’s stock worth $1,444,000 after purchasing an additional 9,708 shares during the period. Fifth Third Bancorp raised its stake in Virtu Financial by 6.8% during the 3rd quarter. Fifth Third Bancorp now owns 35,897 shares of the company’s stock valued at $1,980,000 after purchasing an additional 2,283 shares during the period. Maryland State Retirement & Pension System raised its stake in Virtu Financial by 41.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 23,414 shares of the company’s stock valued at $1,292,000 after purchasing an additional 6,809 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Virtu Financial during the 3rd quarter valued at $552,000. Finally, Illinois Municipal Retirement Fund raised its stake in Virtu Financial by 52.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 134,326 shares of the company’s stock valued at $7,409,000 after purchasing an additional 46,434 shares during the period. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Company Profile

(Get Free Report)

Virtu Financial, Inc is a financial technology firm and electronic market maker that provides liquidity across a range of global financial markets. The company uses technology and quantitative analysis to facilitate trading in asset classes including equities, exchange-traded funds, options, futures, currencies, fixed income and commodities.

In addition to market making, Virtu offers execution services and trading technology for institutional investors, broker-dealers and other market participants.

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Analyst Recommendations for Virtu Financial (NYSE:VIRT)

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