Investment Technology Group (ITG) Board Authorizes Share Repurchase Plan

Investment Technology Group (NYSE:ITG) announced that its Board of Directors has initiated a share buyback plan, which allows the company to buyback 4,000,000 shares on Thursday, February 15th, EventVestor reports. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Investment Technology Group (ITG) opened at $19.80 on Wednesday. The firm has a market capitalization of $675.76, a PE ratio of -16.70 and a beta of 1.35. The company has a current ratio of 1.51, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. Investment Technology Group has a 1-year low of $17.63 and a 1-year high of $23.96.

Investment Technology Group (NYSE:ITG) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.12 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.12. The company had revenue of $126.70 million for the quarter, compared to analysts’ expectations of $125.70 million. Investment Technology Group had a positive return on equity of 2.66% and a negative net margin of 8.15%. Investment Technology Group’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. research analysts anticipate that Investment Technology Group will post 1.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.41%. Investment Technology Group’s dividend payout ratio is -23.53%.

ITG has been the subject of a number of research analyst reports. ValuEngine downgraded Investment Technology Group from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Zacks Investment Research downgraded Investment Technology Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The stock has an average rating of “Sell” and a consensus target price of $22.50.

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Investment Technology Group Company 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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