Millennium Management LLC grew its position in shares of Investment Technology Group (NYSE:ITG) by 103.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,533 shares of the financial services provider’s stock after buying an additional 153,755 shares during the quarter. Millennium Management LLC owned 0.92% of Investment Technology Group worth $6,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Investment Technology Group during the 1st quarter valued at $111,000. First Quadrant L P CA bought a new position in shares of Investment Technology Group during the 2nd quarter valued at $118,000. Piedmont Investment Advisors LLC bought a new position in shares of Investment Technology Group during the 2nd quarter valued at $161,000. Raymond James & Associates bought a new position in shares of Investment Technology Group during the 2nd quarter valued at $228,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Investment Technology Group during the 2nd quarter valued at $297,000. 87.16% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on ITG. Zacks Investment Research raised Investment Technology Group from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a report on Wednesday, June 20th. ValuEngine raised Investment Technology Group from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. Finally, JPMorgan Chase & Co. raised Investment Technology Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $24.00 to $25.00 in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $25.00.
NYSE ITG opened at $27.63 on Friday. The firm has a market cap of $714.54 million, a PE ratio of 90.22 and a beta of 1.70. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.01. Investment Technology Group has a 1-year low of $17.63 and a 1-year high of $28.18.
Investment Technology Group (NYSE:ITG) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Investment Technology Group had a positive return on equity of 5.29% and a negative net margin of 9.58%. The company had revenue of $128.50 million for the quarter, compared to analysts’ expectations of $126.40 million. During the same period last year, the firm earned $0.14 EPS. Investment Technology Group’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts forecast that Investment Technology Group will post 1.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Tuesday, August 21st were issued a $0.07 dividend. The ex-dividend date was Monday, August 20th. This represents a $0.28 dividend on an annualized basis and a yield of 1.01%. Investment Technology Group’s dividend payout ratio is currently 93.33%.
Investment Technology Group Company Profile
Investment Technology Group, Inc operates as a financial technology company in the United States, Canada, Europe, and the Asia Pacific. The company offers various solutions for asset managers and broker-dealers in the areas of execution services, workflow technology, and analytics that provide trade execution services and solutions for portfolio management, as well as pre-trade analytics, and post-trade analytics and processing.
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