Wells Fargo & Company MN Trims Stake in Investment Technology Group, Inc. (ITG)

Wells Fargo & Company MN cut its stake in Investment Technology Group, Inc. (NYSE:ITG) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,533 shares of the financial services provider’s stock after selling 155 shares during the period. Wells Fargo & Company MN owned 0.07% of Investment Technology Group worth $479,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Investment Technology Group in the second quarter valued at approximately $620,000. JPMorgan Chase & Co. boosted its holdings in Investment Technology Group by 11.3% in the second quarter. JPMorgan Chase & Co. now owns 171,016 shares of the financial services provider’s stock valued at $3,632,000 after acquiring an additional 17,341 shares during the last quarter. Swiss National Bank boosted its holdings in Investment Technology Group by 8.4% in the second quarter. Swiss National Bank now owns 52,800 shares of the financial services provider’s stock valued at $1,121,000 after acquiring an additional 4,100 shares during the last quarter. Legal & General Group Plc boosted its holdings in Investment Technology Group by 8.7% in the second quarter. Legal & General Group Plc now owns 58,935 shares of the financial services provider’s stock valued at $1,252,000 after acquiring an additional 4,730 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Investment Technology Group by 1.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 139,169 shares of the financial services provider’s stock valued at $2,956,000 after acquiring an additional 1,348 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Several brokerages recently commented on ITG. TheStreet upgraded Investment Technology Group from a “c” rating to a “b-” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut Investment Technology Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Rosenblatt Securities began coverage on Investment Technology Group in a report on Tuesday, September 12th. They set a “neutral” rating and a $21.00 price target on the stock. ValuEngine cut Investment Technology Group from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, BidaskClub cut Investment Technology Group from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Investment Technology Group presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Investment Technology Group, Inc. (ITG) opened at $18.77 on Monday. The stock has a market capitalization of $620.55, a P/E ratio of 53.63 and a beta of 1.48. Investment Technology Group, Inc. has a twelve month low of $17.75 and a twelve month high of $23.96. The company has a current ratio of 1.53, a quick ratio of 1.52 and a debt-to-equity ratio of 0.01.

Investment Technology Group (NYSE:ITG) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). Investment Technology Group had a positive return on equity of 2.92% and a negative net margin of 6.57%. The business had revenue of $114.50 million for the quarter, compared to the consensus estimate of $112.50 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Investment Technology Group’s quarterly revenue was up 9.9% on a year-over-year basis. sell-side analysts anticipate that Investment Technology Group, Inc. will post 0.23 earnings per share for the current fiscal year.

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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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