Virtu Financial (NASDAQ:VIRT) Price Target Increased to $24.00 by Analysts at UBS Group

Virtu Financial (NASDAQ:VIRT) had its price objective raised by UBS Group from $18.00 to $24.00 in a report published on Monday morning, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on VIRT. The Goldman Sachs Group raised their price target on shares of Virtu Financial from $19.20 to $21.70 and gave the company a neutral rating in a research report on Friday, April 26th. Citigroup lifted their price objective on shares of Virtu Financial from $22.50 to $24.50 and gave the stock a buy rating in a research report on Thursday, April 25th. Bank of America lifted their price objective on shares of Virtu Financial from $22.00 to $25.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Morgan Stanley lifted their price target on shares of Virtu Financial from $19.00 to $20.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Finally, Piper Sandler lifted their price target on shares of Virtu Financial from $21.00 to $25.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $23.10.

Virtu Financial Stock Performance

NASDAQ:VIRT opened at $22.62 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a market capitalization of $3.56 billion, a P/E ratio of 15.82, a PEG ratio of 0.48 and a beta of 0.39. The company has a 50 day moving average price of $22.82 and a 200 day moving average price of $20.42. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $25.68.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The firm had revenue of $366.87 million during the quarter, compared to analysts’ expectations of $334.79 million. Virtu Financial had a net margin of 6.04% and a return on equity of 17.33%. Equities research analysts forecast that Virtu Financial will post 2.08 EPS for the current year.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were issued a dividend of $0.24 per share. The ex-dividend date was Friday, May 31st. This represents a $0.96 annualized dividend and a yield of 4.24%. Virtu Financial’s dividend payout ratio is currently 67.13%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VIRT. First Bank & Trust grew its position in Virtu Financial by 3.9% during the first quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock worth $402,000 after buying an additional 734 shares during the period. Quarry LP grew its position in Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after buying an additional 746 shares during the period. Abich Financial Wealth Management LLC grew its position in Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after buying an additional 781 shares during the period. Advisors Capital Management LLC grew its position in Virtu Financial by 0.5% during the third quarter. Advisors Capital Management LLC now owns 171,087 shares of the financial services provider’s stock worth $2,955,000 after buying an additional 848 shares during the period. Finally, CWM LLC grew its position in Virtu Financial by 112.3% during the fourth quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,127 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

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.