JPMorgan Chase & Co. boosted its holdings in shares of Investment Technology Group (NYSE:ITG) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,706 shares of the financial services provider’s stock after purchasing an additional 34,690 shares during the quarter. JPMorgan Chase & Co. owned about 0.62% of Investment Technology Group worth $4,608,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new stake in Investment Technology Group during the 2nd quarter valued at approximately $159,000. SG Americas Securities LLC bought a new stake in Investment Technology Group during the 3rd quarter valued at approximately $179,000. Crossmark Global Holdings Inc. bought a new stake in Investment Technology Group during the 3rd quarter valued at approximately $228,000. Municipal Employees Retirement System of Michigan raised its stake in Investment Technology Group by 67.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,470 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 5,020 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in Investment Technology Group by 16.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 17,424 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 2,400 shares during the period. 86.57% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on ITG shares. Rosenblatt Securities began coverage on Investment Technology Group in a research note on Tuesday, September 12th. They set a “neutral” rating and a $21.00 target price on the stock. ValuEngine cut Investment Technology Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. The company has a consensus rating of “Sell” and an average price target of $23.00.
Investment Technology Group (NYSE:ITG) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.14). The firm had revenue of $114.50 million for the quarter, compared to analysts’ expectations of $112.50 million. Investment Technology Group had a negative net margin of 6.57% and a positive return on equity of 2.92%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) EPS. equities research analysts expect that Investment Technology Group will post 0.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Monday, November 27th. Investment Technology Group’s dividend payout ratio is presently -29.47%.
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About Investment Technology Group
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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