The Manufacturers Life Insurance Company Purchases 4,620 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

The Manufacturers Life Insurance Company increased its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 30.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,756 shares of the financial services provider’s stock after acquiring an additional 4,620 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Virtu Financial were worth $444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VIRT. Riverview Trust Co bought a new position in shares of Virtu Financial during the 1st quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of Virtu Financial during the 2nd quarter worth about $39,000. Abich Financial Wealth Management LLC increased its holdings in shares of Virtu Financial by 55.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares during the period. Innealta Capital LLC bought a new position in shares of Virtu Financial during the 2nd quarter worth about $46,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 372 shares during the period. Institutional investors own 45.78% of the company’s stock.

Insiders Place Their Bets

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the sale, the director now directly owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 46.70% of the company’s stock.

Virtu Financial Price Performance

Shares of Virtu Financial stock opened at $33.42 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 0.54 and a beta of 0.38. Virtu Financial, Inc. has a 1-year low of $16.02 and a 1-year high of $33.47. The firm’s 50-day moving average price is $30.98 and its two-hundred day moving average price is $25.96.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.23. The firm had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $331.92 million. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts predict that Virtu Financial, Inc. will post 2.57 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 annualized dividend and a yield of 2.87%. Virtu Financial’s dividend payout ratio is 67.13%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VIRT shares. The Goldman Sachs Group boosted 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. UBS Group lifted their target price on shares of Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Piper Sandler lifted their target price on shares of Virtu Financial from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th. Finally, Bank of America decreased their target price on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.79.

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.