Investment Technology Group, Inc. (ITG) Receives $20.50 Consensus PT from Analysts
Investment Technology Group, Inc. (NYSE:ITG) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.50.
Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Investment Technology Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet upgraded shares of Investment Technology Group from a “c” rating to a “b-” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered shares of Investment Technology Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Rosenblatt Securities assumed coverage on shares of Investment Technology Group in a research note on Tuesday. They set a “neutral” rating and a $21.00 price target for the company. Finally, BidaskClub lowered shares of Investment Technology Group from a “hold” rating to a “sell” rating in a research note on Monday, July 31st.
Investment Technology Group (NYSE ITG) traded up 0.50% during trading on Tuesday, hitting $20.13. The stock had a trading volume of 356,595 shares. Investment Technology Group has a 1-year low of $15.04 and a 1-year high of $22.69. The firm’s market capitalization is $666.81 million. The firm has a 50 day moving average price of $20.49 and a 200-day moving average price of $20.54.
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 (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $124.00 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts expect that Investment Technology Group will post $0.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 annualized dividend and a dividend yield of 1.39%. Investment Technology Group’s payout ratio is currently -107.69%.
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Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue grew its stake in Investment Technology Group by 77.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,188 shares of the financial services provider’s stock valued at $131,000 after buying an additional 2,698 shares in the last quarter. Mason Street Advisors LLC grew its stake in Investment Technology Group by 9.2% in the 1st quarter. Mason Street Advisors LLC now owns 7,384 shares of the financial services provider’s stock valued at $150,000 after buying an additional 623 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Investment Technology Group in the 2nd quarter valued at approximately $159,000. SG Americas Securities LLC grew its stake in Investment Technology Group by 8.6% in the 1st quarter. SG Americas Securities LLC now owns 11,308 shares of the financial services provider’s stock valued at $229,000 after buying an additional 893 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Investment Technology Group by 4.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the financial services provider’s stock valued at $261,000 after buying an additional 500 shares in the last quarter. Institutional investors own 87.64% of the company’s stock.
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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