Charles Schwab Investment Management Inc. Sells 15,847 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Charles Schwab Investment Management Inc. trimmed its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 1.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,271,475 shares of the financial services provider’s stock after selling 15,847 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Virtu Financial were worth $38,729,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of VIRT. Price T Rowe Associates Inc. MD grew its holdings in Virtu Financial by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,801 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 2,314 shares in the last quarter. Comerica Bank lifted its position in shares of Virtu Financial by 244.7% during the 1st quarter. Comerica Bank now owns 12,401 shares of the financial services provider’s stock valued at $254,000 after buying an additional 8,803 shares during the last quarter. CWM LLC increased its stake in shares of Virtu Financial by 23.2% in the second quarter. CWM LLC now owns 7,142 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 1,346 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in shares of Virtu Financial in the second quarter valued at $210,000. Finally, Thrive Wealth Management LLC purchased a new stake in shares of Virtu Financial in the second quarter worth about $212,000. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Trading Up 1.3 %

Shares of NASDAQ:VIRT opened at $37.81 on Tuesday. The stock’s 50-day simple moving average is $33.23 and its two-hundred day simple moving average is $28.81. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $38.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 0.58 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. The firm had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. Analysts expect that Virtu Financial, Inc. will post 2.71 EPS for the current year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, November 29th. Virtu Financial’s payout ratio is currently 48.24%.

Analyst Upgrades and Downgrades

VIRT has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research report on Thursday, October 24th. Morgan Stanley boosted their price objective on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Bank of America lowered their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Citigroup lifted their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.50.

Virtu Financial 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.