Schwab Charles Investment Management Inc. Increases Holdings in Virtu Financial (VIRT)

Schwab Charles Investment Management Inc. raised its position in Virtu Financial (NASDAQ:VIRT) by 5.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 177,070 shares of the financial services provider’s stock after purchasing an additional 9,341 shares during the period. Schwab Charles Investment Management Inc. owned 0.09% of Virtu Financial worth $5,844,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VIRT. Teacher Retirement System of Texas purchased a new position in Virtu Financial in the 4th quarter valued at $296,000. First Trust Advisors LP lifted its holdings in Virtu Financial by 10.7% in the 4th quarter. First Trust Advisors LP now owns 194,799 shares of the financial services provider’s stock valued at $3,565,000 after purchasing an additional 18,753 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Virtu Financial by 62.6% in the 4th quarter. Wells Fargo & Company MN now owns 197,717 shares of the financial services provider’s stock valued at $3,618,000 after purchasing an additional 76,100 shares in the last quarter. Global X Management Co. LLC lifted its holdings in Virtu Financial by 179.9% in the 4th quarter. Global X Management Co. LLC now owns 24,709 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 15,880 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Virtu Financial in the 4th quarter valued at $334,000. Institutional investors own 25.54% of the company’s stock.

NASDAQ VIRT opened at $29.80 on Friday. Virtu Financial has a 52 week low of $13.10 and a 52 week high of $37.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $5.58 billion, a PE ratio of 52.28, a P/E/G ratio of 2.72 and a beta of -0.67.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Friday, May 4th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.61 by $0.15. Virtu Financial had a return on equity of 20.32% and a net margin of 11.08%. The business had revenue of $406.10 million for the quarter, compared to analyst estimates of $307.24 million. During the same quarter in the previous year, the firm earned $0.16 EPS. The company’s quarterly revenue was up 190.9% compared to the same quarter last year. sell-side analysts expect that Virtu Financial will post 2.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 3.22%. Virtu Financial’s dividend payout ratio is presently 168.42%.

VIRT has been the topic of a number of research reports. BidaskClub upgraded Virtu Financial from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 28th. JPMorgan Chase & Co. raised their price objective on Virtu Financial from $22.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, April 24th. Zacks Investment Research lowered Virtu Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, April 13th. Jefferies Financial Group initiated coverage on Virtu Financial in a report on Wednesday, May 23rd. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, ValuEngine upgraded Virtu Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.33.

In related news, major shareholder Holdings (Private) Ltd Temasek sold 3,450,000 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $27.16, for a total transaction of $93,702,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas A. Cifu sold 117,043 shares of the firm’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $29.91, for a total value of $3,500,756.13. Following the sale, the chief executive officer now directly owns 267,043 shares of the company’s stock, valued at $7,987,256.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,112,452 shares of company stock worth $194,307,000. Insiders own 73.50% of the company’s stock.

About Virtu Financial

Virtu Financial, Inc, together with its subsidiaries, provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide. The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.

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

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