Virtu Financial (NASDAQ:VIRT) Given New $21.50 Price Target at JPMorgan Chase & Co.

Virtu Financial (NASDAQ:VIRT) had its price target raised by JPMorgan Chase & Co. from $20.00 to $21.50 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Virtu Financial from a sell rating to a hold rating in a report on Tuesday, April 2nd. Citigroup upped their price target on Virtu Financial from $21.00 to $22.50 and gave the company a buy rating in a research report on Tuesday, March 26th. Piper Sandler upped their price target on Virtu Financial from $21.00 to $25.00 and gave the company an overweight rating in a research report on Friday, April 12th. Morgan Stanley upped their price target on Virtu Financial from $19.00 to $20.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Finally, Bank of America upped their price target on Virtu Financial from $22.00 to $25.00 and gave the company a buy rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $22.24.

Virtu Financial Trading Down 1.7 %

Shares of VIRT stock opened at $22.02 on Thursday. The stock has a market capitalization of $3.48 billion, a PE ratio of 15.40, a P/E/G ratio of 0.61 and a beta of 0.40. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $22.80. The business has a 50-day moving average of $19.67 and a 200 day moving average of $18.89. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.46 and a quick ratio of 0.46.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.13). The company had revenue of $535.98 million for the quarter, compared to analysts’ expectations of $272.96 million. Virtu Financial had a net margin of 6.04% and a return on equity of 17.14%. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, sell-side analysts anticipate that Virtu Financial will post 1.8 earnings per share for the current year.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, May 31st. Virtu Financial’s dividend payout ratio is currently 67.13%.

Insider Transactions at Virtu Financial

In other news, CEO Douglas A. Cifu bought 50,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average price of $16.21 per share, with a total value of $810,500.00. Following the transaction, the chief executive officer now owns 584,132 shares of the company’s stock, valued at $9,468,779.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 44.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VIRT. SG Americas Securities LLC bought a new position in shares of Virtu Financial in the 3rd quarter worth approximately $1,049,000. Exchange Traded Concepts LLC increased its position in Virtu Financial by 6.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 21,628 shares of the financial services provider’s stock valued at $374,000 after buying an additional 1,390 shares in the last quarter. Simplicity Solutions LLC increased its position in Virtu Financial by 1.6% during the 3rd quarter. Simplicity Solutions LLC now owns 123,369 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 1,939 shares in the last quarter. Raymond James & Associates increased its position in Virtu Financial by 21.2% during the 3rd quarter. Raymond James & Associates now owns 221,769 shares of the financial services provider’s stock valued at $3,830,000 after buying an additional 38,862 shares in the last quarter. Finally, 1834 Investment Advisors Co. increased its position in Virtu Financial by 18.1% during the 3rd quarter. 1834 Investment Advisors Co. now owns 30,218 shares of the financial services provider’s stock valued at $522,000 after buying an additional 4,638 shares in the last quarter. Institutional investors own 45.78% of the company’s stock.

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.