American International Group Inc. Reduces Position in Investment Technology Group, Inc. (NYSE:ITG)

American International Group Inc. cut its position in shares of Investment Technology Group, Inc. (NYSE:ITG) by 14.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,269 shares of the financial services provider’s stock after selling 3,545 shares during the period. American International Group Inc. owned 0.06% of Investment Technology Group worth $410,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ITG. Russell Investments Group Ltd. bought a new stake in shares of Investment Technology Group during the fourth quarter worth $769,000. Comerica Bank raised its stake in shares of Investment Technology Group by 5.0% in the fourth quarter. Comerica Bank now owns 33,200 shares of the financial services provider’s stock worth $689,000 after buying an additional 1,587 shares in the last quarter. State Street Corp raised its stake in shares of Investment Technology Group by 2.9% in the fourth quarter. State Street Corp now owns 742,652 shares of the financial services provider’s stock worth $14,665,000 after buying an additional 21,276 shares in the last quarter. FMR LLC raised its stake in shares of Investment Technology Group by 48.8% in the fourth quarter. FMR LLC now owns 888,780 shares of the financial services provider’s stock worth $17,545,000 after buying an additional 291,499 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in shares of Investment Technology Group during the fourth quarter worth $209,000. 87.11% of the stock is owned by institutional investors and hedge funds.

Shares of Investment Technology Group, Inc. (NYSE:ITG) opened at 21.55 on Monday. Investment Technology Group, Inc. has a one year low of $15.04 and a one year high of $22.42. The company has a 50 day moving average of $20.77 and a 200-day moving average of $20.30. The firm’s market cap is $714.30 million.

Investment Technology Group (NYSE:ITG) last issued its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The business had revenue of $120.80 million during the quarter, compared to the consensus estimate of $120.10 million. Investment Technology Group had a negative net margin of 3.89% and a positive return on equity of 1.73%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, analysts expect that Investment Technology Group, Inc. will post $0.73 EPS for the current year.

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A number of analysts recently weighed in on ITG shares. Zacks Investment Research lowered shares of Investment Technology Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. ValuEngine raised shares of Investment Technology Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $20.00.

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.

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

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