Virtu Financial, Inc. (NASDAQ:VIRT) Plans Quarterly Dividend of $0.24

Virtu Financial, Inc. (NASDAQ:VIRT) announced a quarterly dividend on Wednesday, August 28th, Zacks reports. Investors of record on Sunday, September 1st will be paid a dividend of 0.24 per share by the financial services provider on Sunday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, August 30th.

Virtu Financial has a payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Virtu Financial to earn $2.38 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 40.3%.

Virtu Financial Trading Down 2.3 %

Shares of Virtu Financial stock opened at $30.18 on Thursday. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $30.99. The business’s fifty day moving average is $26.39 and its two-hundred day moving average is $22.77. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.70 billion, a PE ratio of 21.11, a P/E/G ratio of 0.52 and a beta of 0.39.

Virtu Financial (NASDAQ:VIRT) last released its earnings results 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 the consensus estimate of $331.92 million. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. Analysts anticipate that Virtu Financial will post 2.29 earnings per share for the current year.

Insider Buying and Selling at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the transaction, the director now directly owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 46.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VIRT. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Citigroup boosted their price objective on shares of Virtu Financial from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Piper Sandler increased their target price on Virtu Financial from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Bank of America boosted their price target on Virtu Financial from $25.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, UBS Group lifted their price objective on Virtu Financial from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.36.

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.