State Street Corp raised its holdings in Investment Technology Group, Inc. (NYSE:ITG) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 808,501 shares of the financial services provider’s stock after buying an additional 19,319 shares during the quarter. State Street Corp owned about 2.44% of Investment Technology Group worth $17,174,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ITG. Vanguard Group Inc. lifted its stake in shares of Investment Technology Group by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 2,832,279 shares of the financial services provider’s stock valued at $57,353,000 after purchasing an additional 150,416 shares during the period. FMR LLC lifted its stake in shares of Investment Technology Group by 16.0% in the 2nd quarter. FMR LLC now owns 1,051,880 shares of the financial services provider’s stock valued at $22,342,000 after purchasing an additional 144,800 shares during the period. Penn Capital Management Co. Inc. purchased a new position in shares of Investment Technology Group in the 2nd quarter valued at approximately $1,771,000. AJO LP lifted its stake in shares of Investment Technology Group by 45.2% in the 2nd quarter. AJO LP now owns 208,976 shares of the financial services provider’s stock valued at $4,439,000 after purchasing an additional 65,089 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Investment Technology Group by 140.3% in the 1st quarter. Renaissance Technologies LLC now owns 110,800 shares of the financial services provider’s stock valued at $2,244,000 after purchasing an additional 64,700 shares during the period. Hedge funds and other institutional investors own 86.63% of the company’s stock.
ITG has been the subject of a number of research analyst reports. ValuEngine cut Investment Technology Group from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Zacks Investment Research cut Investment Technology Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Rosenblatt Securities initiated coverage on Investment Technology Group in a research note on Tuesday, September 12th. They set a “neutral” rating and a $21.00 price objective for the company. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The company currently has a consensus rating of “Sell” and a consensus target price of $23.00.
Investment Technology Group (NYSE:ITG) last posted its earnings results on Wednesday, November 1st. The financial services provider reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.14). The business had revenue of $114.50 million during the quarter, compared to the consensus estimate of $112.50 million. Investment Technology Group had a positive return on equity of 2.92% and a negative net margin of 6.57%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS. sell-side analysts predict that Investment Technology Group, Inc. will post 0.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, November 27th. Investment Technology Group’s payout ratio is -29.47%.
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Investment Technology Group Profile
Investment Technology Group, Inc (ITG) is a financial technology company that helps brokers and asset managers improve returns for investors around the world. The Company operates through four segments: U.S. Operations, Canadian Operations, European Operations and Asia Pacific Operations. These four segments provide categories of products and services, such as Execution Services, Workflow Technology and Analytics.
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