Schwab Charles Investment Management Inc. grew its holdings in shares of Investment Technology Group (NYSE:ITG) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 162,998 shares of the financial services provider’s stock after purchasing an additional 15,647 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.49% of Investment Technology Group worth $3,138,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Investment Technology Group in the 3rd quarter worth approximately $179,000. Crossmark Global Holdings Inc. bought a new stake in shares of Investment Technology Group during the 3rd quarter valued at $228,000. Trexquant Investment LP bought a new stake in shares of Investment Technology Group during the 3rd quarter valued at $275,000. Municipal Employees Retirement System of Michigan grew its position in shares of 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 acquiring an additional 5,020 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of Investment Technology Group by 57.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,517 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 7,522 shares during the period. Hedge funds and other institutional investors own 88.10% of the company’s stock.
Shares of NYSE ITG traded up $0.28 during mid-day trading on Thursday, hitting $20.01. 113,092 shares of the company’s stock traded hands, compared to its average volume of 247,277. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $656.32, a price-to-earnings ratio of 66.43 and a beta of 1.42. 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 posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. Investment Technology Group had a negative net margin of 8.15% and a positive return on equity of 2.66%. The company had revenue of $126.70 million for the quarter, compared to analyst estimates of $125.70 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts predict that Investment Technology Group will post 1.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Tuesday, February 27th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Monday, February 26th. Investment Technology Group’s dividend payout ratio (DPR) is currently 93.33%.
Investment Technology Group declared that its Board of Directors has approved a share buyback program on Thursday, February 15th that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Investment Technology Group from a “sell” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, January 25th. Citigroup raised shares of Investment Technology Group to a “buy” rating in a report on Friday, March 2nd. Rosenblatt Securities raised shares of Investment Technology Group from a “neutral” rating to a “buy” rating in a report on Friday, March 2nd. Finally, ValuEngine cut shares of Investment Technology Group from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average 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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