Brokerages Set Investment Technology Group, Inc. (NYSE:ITG) PT at $18.50

Shares of Investment Technology Group, Inc. (NYSE:ITG) have received an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.00.

ITG has been the subject of several research reports. Zacks Investment Research lowered Investment Technology Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine upgraded Investment Technology Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded Investment Technology Group from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet upgraded Investment Technology Group from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd.

Investment Technology Group (ITG) remained flat at $20.37 on Monday. The company’s stock had a trading volume of 33,340 shares. Investment Technology Group has a 52 week low of $15.04 and a 52 week high of $22.69. The stock has a 50-day moving average of $21.47 and a 200-day moving average of $20.54. The firm’s market cap is $674.76 million.

Investment Technology Group (NYSE:ITG) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Investment Technology Group had a negative net margin of 1.77% and a positive return on equity of 3.08%. The business had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $124 million. During the same period last year, the firm earned ($0.02) EPS. The company’s revenue was up .8% compared to the same quarter last year. Analysts forecast that Investment Technology Group will post $0.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.37%. Investment Technology Group’s dividend payout ratio (DPR) is presently -107.69%.

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Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its stake in Investment Technology Group by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 6,188 shares of the financial services provider’s stock worth $131,000 after buying an additional 2,698 shares in the last quarter. Mason Street Advisors LLC boosted its stake in Investment Technology Group by 9.2% in the first quarter. Mason Street Advisors LLC now owns 7,384 shares of the financial services provider’s stock worth $150,000 after buying an additional 623 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in Investment Technology Group during the fourth quarter worth about $209,000. SG Americas Securities LLC boosted its stake in Investment Technology Group by 8.6% in the first quarter. SG Americas Securities LLC now owns 11,308 shares of the financial services provider’s stock worth $229,000 after buying an additional 893 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Investment Technology Group by 4.0% in the first quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the financial services provider’s stock worth $261,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

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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