Virtu Financial, Inc. (NASDAQ:VIRT – Get Free Report) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.24 per share by the financial services provider on Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, February 28th.
Virtu Financial has a dividend payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Virtu Financial to earn $3.23 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 29.7%.
Virtu Financial Price Performance
NASDAQ:VIRT opened at $35.10 on Wednesday. The business’s 50-day moving average is $37.11 and its 200 day moving average is $34.36. Virtu Financial has a 12 month low of $17.01 and a 12 month high of $41.38. The company has a market capitalization of $5.43 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.43 and a beta of 0.46. The company has a current ratio of 1.13, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17.
Analysts Set New Price Targets
VIRT has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on shares of Virtu Financial from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Piper Sandler lifted their price target on Virtu Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.36.
Check Out Our Latest Analysis on VIRT
Insider Buying and Selling
In other Virtu Financial news, EVP Stephen Cavoli sold 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $37.41, for a total transaction of $1,271,940.00. Following the completion of the transaction, the executive vice president now owns 157,703 shares in the company, valued at $5,899,669.23. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brett Fairclough sold 72,967 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total value of $2,688,104.28. Following the transaction, the chief operating officer now directly owns 90,749 shares in the company, valued at approximately $3,343,193.16. This represents a 44.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,967 shares of company stock valued at $5,213,964. Company insiders own 46.70% of the company’s stock.
Virtu Financial Company 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.
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