Virtu Financial, Inc. (NASDAQ:VIRT) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRTGet Rating) by 27.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 334,881 shares of the financial services provider’s stock after buying an additional 72,094 shares during the quarter. Envestnet Asset Management Inc. owned about 0.19% of Virtu Financial worth $12,464,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Virtu Financial during the 4th quarter worth $37,552,000. Lazard Asset Management LLC lifted its stake in shares of Virtu Financial by 517.1% during the 4th quarter. Lazard Asset Management LLC now owns 419,226 shares of the financial services provider’s stock worth $12,086,000 after purchasing an additional 351,294 shares during the period. Alberta Investment Management Corp purchased a new position in shares of Virtu Financial during the 4th quarter worth $5,415,000. Miller Howard Investments Inc. NY purchased a new position in shares of Virtu Financial during the 1st quarter worth $4,839,000. Finally, Bank of America Corp DE lifted its stake in shares of Virtu Financial by 24.8% during the 4th quarter. Bank of America Corp DE now owns 507,118 shares of the financial services provider’s stock worth $14,620,000 after purchasing an additional 100,834 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Virtu Financial Trading Down 1.6 %

NASDAQ:VIRT opened at $24.16 on Friday. The business’s 50-day moving average is $23.31 and its two-hundred day moving average is $29.47. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.54 and a quick ratio of 0.51. Virtu Financial, Inc. has a 12 month low of $20.90 and a 12 month high of $38.63. The firm has a market capitalization of $4.22 billion, a PE ratio of 7.46 and a beta of -0.11.

Virtu Financial (NASDAQ:VIRTGet Rating) last released its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). Virtu Financial had a net margin of 14.55% and a return on equity of 40.56%. The company had revenue of $357.40 million during the quarter, compared to analysts’ expectations of $359.90 million. During the same period last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts predict that Virtu Financial, Inc. will post 3.09 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.96 annualized dividend and a dividend yield of 3.97%. Virtu Financial’s dividend payout ratio is presently 29.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group reduced their price target on Virtu Financial from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 29th. Morgan Stanley cut their target price on Virtu Financial from $28.00 to $19.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 19th. Evercore ISI cut their target price on Virtu Financial to $25.00 in a research report on Friday, July 22nd. Citigroup increased their target price on Virtu Financial from $36.00 to $37.50 in a research report on Wednesday, April 13th. Finally, Rosenblatt Securities increased their target price on Virtu Financial from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Virtu Financial currently has a consensus rating of “Hold” and a consensus target price of $33.07.

Insider Activity

In other Virtu Financial news, Director Joanne Minieri bought 4,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average cost of $23.45 per share, for a total transaction of $93,800.00. Following the completion of the purchase, the director now directly owns 12,187 shares of the company’s stock, valued at $285,785.15. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 42.10% of the company’s stock.

Virtu Financial Company Profile

(Get Rating)

Virtu Financial, Inc, a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology.

Further Reading

Institutional Ownership by Quarter for Virtu Financial (NASDAQ:VIRT)

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