Rhumbline Advisers Increases Holdings in Investment Technology Group (ITG)

Rhumbline Advisers lifted its stake in shares of Investment Technology Group (NYSE:ITG) by 15.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 79,786 shares of the financial services provider’s stock after buying an additional 10,483 shares during the period. Rhumbline Advisers’ holdings in Investment Technology Group were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Investment Technology Group by 223.5% during the 4th quarter. Arizona State Retirement System now owns 55,567 shares of the financial services provider’s stock worth $1,070,000 after purchasing an additional 38,391 shares during the period. Pinebridge Investments L.P. grew its holdings in Investment Technology Group by 70.3% in the 4th quarter. Pinebridge Investments L.P. now owns 79,256 shares of the financial services provider’s stock worth $1,526,000 after buying an additional 32,711 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Investment Technology Group by 129.7% in the 4th quarter. Wells Fargo & Company MN now owns 57,383 shares of the financial services provider’s stock worth $1,105,000 after buying an additional 32,396 shares in the last quarter. River & Mercantile Asset Management LLP grew its holdings in Investment Technology Group by 45.5% in the 4th quarter. River & Mercantile Asset Management LLP now owns 145,324 shares of the financial services provider’s stock worth $2,798,000 after buying an additional 45,430 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Investment Technology Group in the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 88.10% of the company’s stock.

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Investment Technology Group stock opened at $19.33 on Friday. Investment Technology Group has a fifty-two week low of $17.63 and a fifty-two week high of $23.96. The stock has a market capitalization of $639.46, a P/E ratio of -16.24 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.53 and a quick ratio of 1.53.

Investment Technology Group (NYSE:ITG) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $126.70 million during the quarter, compared to analyst estimates of $125.70 million. Investment Technology Group had a positive return on equity of 2.66% and a negative net margin of 8.15%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. analysts anticipate that Investment Technology Group will post 1.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Monday, February 26th. Investment Technology Group’s payout ratio is currently -23.53%.

Investment Technology Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that permits the company to buyback 4,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

A number of equities analysts recently issued reports on ITG shares. Zacks Investment Research lowered Investment Technology Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Rosenblatt Securities raised Investment Technology Group from a “neutral” rating to a “buy” rating in a report on Friday, March 2nd. Finally, Citigroup raised Investment Technology Group to a “buy” rating in a report on Friday, March 2nd. Three analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Investment Technology Group has a consensus rating of “Hold” and an average price target 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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