Wells Fargo & Company MN Buys 131,591 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Wells Fargo & Company MN boosted its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 34.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 518,374 shares of the financial services provider’s stock after buying an additional 131,591 shares during the period. Wells Fargo & Company MN owned 0.34% of Virtu Financial worth $18,496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Virtu Financial by 180.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 948,590 shares of the financial services provider’s stock worth $33,846,000 after purchasing an additional 609,821 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Virtu Financial during the fourth quarter valued at $12,196,000. Norges Bank bought a new stake in Virtu Financial in the fourth quarter worth $12,018,000. Allspring Global Investments Holdings LLC grew its stake in shares of Virtu Financial by 28.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 834,418 shares of the financial services provider’s stock worth $30,027,000 after acquiring an additional 183,823 shares during the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of Virtu Financial by 538.4% during the fourth quarter. Edgestream Partners L.P. now owns 193,812 shares of the financial services provider’s stock valued at $6,915,000 after acquiring an additional 163,454 shares in the last quarter. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Insider Activity at Virtu Financial

In other Virtu Financial news, EVP Stephen Cavoli sold 34,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $36.88, for a total transaction of $1,253,920.00. Following the completion of the sale, the executive vice president now owns 191,703 shares of the company’s stock, valued at approximately $7,070,006.64. The trade was a 15.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brett Fairclough sold 72,967 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $36.84, for a total value of $2,688,104.28. Following the completion of the transaction, the chief operating officer now directly owns 90,749 shares in the company, valued at $3,343,193.16. This trade represents a 44.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,967 shares of company stock worth $5,213,964. 46.70% of the stock is owned by company insiders.

Analyst Ratings Changes

VIRT has been the topic of several analyst reports. Morgan Stanley downgraded shares of Virtu Financial from an “equal weight” rating to an “underweight” rating and set a $26.00 target price on the stock. in a research note on Tuesday, April 8th. Piper Sandler upped their price objective on Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Bank of America reduced their target price on Virtu Financial from $56.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Virtu Financial currently has a consensus rating of “Hold” and an average price target of $32.21.

Virtu Financial Price Performance

Shares of VIRT opened at $37.03 on Monday. The firm has a fifty day simple moving average of $36.78 and a two-hundred day simple moving average of $35.74. The firm has a market cap of $5.74 billion, a PE ratio of 12.47, a P/E/G ratio of 1.43 and a beta of 0.71. The company has a current ratio of 1.13, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17. Virtu Financial, Inc. has a 1-year low of $20.30 and a 1-year high of $41.38.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a return on equity of 27.39% and a net margin of 9.61%. On average, equities analysts anticipate that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, February 28th. Virtu Financial’s payout ratio is 32.32%.

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.