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

Virtu Financial, Inc. (NASDAQ:VIRT) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Saturday, June 1st will be given a dividend of 0.24 per share by the financial services provider on Saturday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, May 31st.

Virtu Financial has a payout ratio of 40.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Virtu Financial to earn $2.04 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 47.1%.

Virtu Financial Stock Performance

Shares of VIRT stock traded up $0.23 during trading on Thursday, reaching $22.07. The company had a trading volume of 115,115 shares, compared to its average volume of 1,066,726. The company has a market capitalization of $3.49 billion, a PE ratio of 15.16, a PEG ratio of 0.58 and a beta of 0.40. The firm’s 50 day simple moving average is $19.35 and its two-hundred day simple moving average is $18.80. 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 has a one year low of $16.02 and a one year high of $22.80.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). The business had revenue of $535.98 million during the quarter, compared to the consensus estimate of $272.96 million. Virtu Financial had a net margin of 6.22% and a return on equity of 16.94%. During the same quarter in the previous year, the firm posted $0.32 EPS. Sell-side analysts forecast that Virtu Financial will post 1.8 earnings per share for the current year.

Wall Street Analyst Weigh In

VIRT has been the subject of a number of recent research reports. Citigroup boosted their target price on Virtu Financial from $21.00 to $22.50 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Morgan Stanley boosted their target price on Virtu Financial from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com raised Virtu Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. UBS Group decreased their price objective on Virtu Financial from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, January 26th. Finally, Piper Sandler boosted their target price on Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.75.

Insider Buying and Selling

In related news, CEO Douglas A. Cifu bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were acquired at an average price of $16.21 per share, for a total transaction of $810,500.00. Following the completion of the acquisition, the chief executive officer now owns 584,132 shares of the company’s stock, valued at approximately $9,468,779.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 44.80% of the stock is currently owned by corporate insiders.

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.