Renaissance Technologies LLC increased its holdings in Investment Technology Group (NYSE:ITG) by 20.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,200 shares of the financial services provider’s stock after buying an additional 90,300 shares during the quarter. Renaissance Technologies LLC owned about 1.58% of Investment Technology Group worth $10,072,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in Investment Technology Group by 23.0% during the 4th quarter. BlackRock Inc. now owns 4,326,982 shares of the financial services provider’s stock valued at $83,296,000 after purchasing an additional 809,536 shares in the last quarter. Geode Capital Management LLC boosted its stake in Investment Technology Group by 35.1% during the 4th quarter. Geode Capital Management LLC now owns 352,868 shares of the financial services provider’s stock valued at $6,792,000 after purchasing an additional 91,608 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Investment Technology Group by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 249,814 shares of the financial services provider’s stock valued at $5,531,000 after purchasing an additional 10,300 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Investment Technology Group by 20.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 205,706 shares of the financial services provider’s stock valued at $4,608,000 after purchasing an additional 34,690 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Investment Technology Group by 3.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 198,363 shares of the financial services provider’s stock valued at $4,392,000 after purchasing an additional 5,900 shares in the last quarter. 88.10% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. Zacks Investment Research raised Investment Technology Group from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine lowered Investment Technology Group from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Rosenblatt Securities raised Investment Technology Group from a “neutral” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Citigroup raised Investment Technology Group to a “buy” rating in a research note on Friday, March 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $22.50.
ITG opened at $19.86 on Friday. The firm has a market cap of $666.24, a PE ratio of 66.20 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.53 and a quick ratio of 1.53. Investment Technology Group has a fifty-two week low of $17.63 and a fifty-two week high of $23.96.
Investment Technology Group (NYSE:ITG) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $126.70 million during the quarter, compared to analyst estimates of $125.70 million. Investment Technology Group had a positive return on equity of 2.66% and a negative net margin of 8.15%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. equities research analysts forecast that Investment Technology Group will post 1.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, February 26th. Investment Technology Group’s dividend payout ratio is presently 93.33%.
Investment Technology Group announced that its board has authorized a stock repurchase program on Thursday, February 15th that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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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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