Alliancebernstein L.P. Acquires 3,080 Shares of Investment Technology Group (ITG)

Alliancebernstein L.P. lifted its holdings in shares of Investment Technology Group (NYSE:ITG) by 6.7% during the 4th quarter, Holdings Channel reports. The firm owned 49,170 shares of the financial services provider’s stock after buying an additional 3,080 shares during the quarter. Alliancebernstein L.P.’s holdings in Investment Technology Group were worth $947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bogle Investment Management L P DE boosted its position in Investment Technology Group by 16.0% during the 4th quarter. Bogle Investment Management L P DE now owns 73,260 shares of the financial services provider’s stock valued at $1,410,000 after buying an additional 10,094 shares during the period. Geode Capital Management LLC boosted its position in Investment Technology Group by 35.1% during the 4th quarter. Geode Capital Management LLC now owns 352,868 shares of the financial services provider’s stock valued at $6,792,000 after buying an additional 91,608 shares during the period. Lazard Asset Management LLC purchased a new stake in Investment Technology Group during the 4th quarter valued at $389,000. Citadel Advisors LLC boosted its position in Investment Technology Group by 55.1% during the 4th quarter. Citadel Advisors LLC now owns 127,304 shares of the financial services provider’s stock valued at $2,451,000 after buying an additional 45,220 shares during the period. Finally, Penn Capital Management Co. Inc. boosted its position in Investment Technology Group by 23.8% during the 4th quarter. Penn Capital Management Co. Inc. now owns 161,987 shares of the financial services provider’s stock valued at $3,118,000 after buying an additional 31,182 shares during the period. 88.10% of the stock is owned by institutional investors and hedge funds.

NYSE:ITG opened at $19.99 on Friday. Investment Technology Group has a 12 month low of $17.63 and a 12 month high of $23.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market capitalization of $652.68, a PE ratio of 66.63 and a beta of 1.42.



Investment Technology Group (NYSE:ITG) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ 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 firm had revenue of $126.70 million during the quarter, compared to analysts’ expectations of $125.70 million. During the same period last year, the company posted $0.16 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. research analysts forecast that Investment Technology Group will post 1.01 earnings per share for the current year.

Investment Technology Group announced that its board has approved a stock buyback program on Thursday, February 15th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th were given a $0.07 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.28 annualized dividend and a dividend yield of 1.40%. Investment Technology Group’s dividend payout ratio is 93.33%.

Several brokerages have weighed in on ITG. Zacks Investment Research raised shares of Investment Technology Group from a “sell” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, January 25th. Rosenblatt Securities raised shares of Investment Technology Group from a “neutral” rating to a “buy” rating in a research report on Friday, March 2nd. Citigroup raised shares of Investment Technology Group to a “buy” rating in a research report on Friday, March 2nd. Finally, ValuEngine cut shares of Investment Technology Group from a “hold” rating to a “sell” rating in a research report 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 stock. Investment Technology Group presently has a consensus rating of “Hold” and an average target price of $22.50.

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Investment Technology Group 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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