State of Alaska Department of Revenue raised its stake in shares of Investment Technology Group, Inc. (NYSE:ITG) by 77.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,188 shares of the financial services provider’s stock after buying an additional 2,698 shares during the period. State of Alaska Department of Revenue’s holdings in Investment Technology Group were worth $131,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Guggenheim Capital LLC acquired a new position in Investment Technology Group during the fourth quarter valued at about $1,333,000. Norges Bank acquired a new position in Investment Technology Group during the fourth quarter valued at about $11,625,000. Citadel Advisors LLC acquired a new position in Investment Technology Group during the first quarter valued at about $778,000. Comerica Bank raised its position in Investment Technology Group by 38.3% in the first quarter. Comerica Bank now owns 45,920 shares of the financial services provider’s stock valued at $925,000 after buying an additional 12,720 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Investment Technology Group by 17.8% in the first 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 buying an additional 287,596 shares in the last quarter. 87.19% of the stock is owned by institutional investors.

Investment Technology Group, Inc. (NYSE ITG) traded up 0.20% during trading on Friday, hitting $20.41. The stock had a trading volume of 47,360 shares. Investment Technology Group, Inc. has a 1-year low of $15.04 and a 1-year high of $22.69. The stock’s 50-day moving average price is $21.47 and its 200-day moving average price is $20.54. The company’s market capitalization is $676.08 million.

Investment Technology Group (NYSE:ITG) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $124 million. Investment Technology Group had a negative net margin of 1.77% and a positive return on equity of 3.08%. Investment Technology Group’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Analysts expect that Investment Technology Group, Inc. will post $0.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be paid 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 yield of 1.37%. Investment Technology Group’s dividend payout ratio is presently -107.69%.

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ITG has been the subject of several recent analyst reports. Zacks Investment Research raised Investment Technology Group from a “sell” rating to a “hold” rating in a report on Thursday, May 4th. ValuEngine raised Investment Technology Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised Investment Technology Group from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet raised Investment Technology Group from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.50.

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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Institutional Ownership by Quarter for Investment Technology Group (NYSE:ITG)

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