Rosenblatt Securities initiated coverage on shares of Investment Technology Group, Inc. (NYSE:ITG) in a research report sent to investors on Tuesday. The firm issued a neutral rating and a $21.00 price objective on the financial services provider’s stock.
A number of other analysts also recently weighed in on ITG. BidaskClub downgraded shares of Investment Technology Group from a hold rating to a sell rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Investment Technology Group from a hold rating to a sell rating in a report on Tuesday, August 8th. TheStreet raised shares of Investment Technology Group from a c rating to a b- rating in a report on Wednesday, August 2nd. Finally, ValuEngine raised shares of Investment Technology Group from a sell rating to a hold rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Investment Technology Group has an average rating of Hold and an average price target of $22.00.
Shares of Investment Technology Group (ITG) opened at 20.17 on Tuesday. The company’s market cap is $668.13 million. The company has a 50 day moving average of $20.68 and a 200 day moving average of $20.55. Investment Technology Group has a 1-year low of $15.04 and a 1-year high of $22.69.
Investment Technology Group (NYSE:ITG) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.04). Investment Technology Group had a positive return on equity of 3.08% and a negative net margin of 1.77%. The firm had revenue of $121.60 million for the quarter, compared to the consensus estimate of $124.00 million. During the same period last year, the company posted ($0.02) EPS. The business’s revenue was up .8% on a year-over-year basis. Equities analysts expect that Investment Technology Group will post $0.58 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 22nd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, August 18th. Investment Technology Group’s payout ratio is -107.69%.
Large investors have recently modified their holdings of the stock. Citadel Advisors LLC bought a new position in Investment Technology Group in the 1st quarter valued at approximately $778,000. Comerica Bank lifted its stake in Investment Technology Group by 38.3% in the 1st quarter. Comerica Bank now owns 45,920 shares of the financial services provider’s stock valued at $925,000 after purchasing an additional 12,720 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Investment Technology Group by 17.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,907,457 shares of the financial services provider’s stock valued at $38,627,000 after purchasing an additional 287,596 shares during the last quarter. Sei Investments Co. lifted its stake in Investment Technology Group by 6.4% in the 2nd quarter. Sei Investments Co. now owns 70,376 shares of the financial services provider’s stock valued at $1,495,000 after purchasing an additional 4,208 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in Investment Technology Group by 3.0% in the 4th quarter. Teachers Advisors LLC now owns 53,407 shares of the financial services provider’s stock valued at $1,054,000 after purchasing an additional 1,559 shares during the last quarter. 87.64% of the stock is owned by institutional investors and hedge funds.
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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