Essex Investment Management Co. LLC acquired a new position in shares of Investment Technology Group (NYSE:ITG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,895 shares of the financial services provider’s stock, valued at approximately $496,000. Essex Investment Management Co. LLC owned approximately 0.07% of Investment Technology Group at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ITG. Schwab Charles Investment Management Inc. boosted its position in shares of Investment Technology Group by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 168,204 shares of the financial services provider’s stock worth $3,321,000 after purchasing an additional 5,206 shares in the last quarter. BlackRock Inc. boosted its position in shares of Investment Technology Group by 3.7% during the 1st quarter. BlackRock Inc. now owns 4,485,970 shares of the financial services provider’s stock worth $88,554,000 after purchasing an additional 158,988 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Investment Technology Group by 6.6% during the 1st quarter. California Public Employees Retirement System now owns 111,300 shares of the financial services provider’s stock worth $2,197,000 after purchasing an additional 6,900 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Investment Technology Group by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 253,560 shares of the financial services provider’s stock worth $5,005,000 after purchasing an additional 6,160 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Investment Technology Group by 18.8% during the 1st quarter. UBS Group AG now owns 210,160 shares of the financial services provider’s stock worth $4,149,000 after purchasing an additional 33,291 shares in the last quarter. 87.16% of the stock is currently owned by institutional investors.

ITG opened at $27.73 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.01. Investment Technology Group has a fifty-two week low of $17.63 and a fifty-two week high of $28.28. The stock has a market capitalization of $904.89 million, a P/E ratio of 48.98 and a beta of 1.70.

Investment Technology Group (NYSE:ITG) last posted its earnings results on Wednesday, August 8th. The financial services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Investment Technology Group had a negative net margin of 9.58% and a positive return on equity of 5.29%. The company had revenue of $128.50 million for the quarter, compared to analyst estimates of $126.40 million. During the same quarter in the prior year, the business posted $0.14 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that Investment Technology Group will post 1.01 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on ITG shares. Zacks Investment Research upgraded shares of Investment Technology Group from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a report on Sunday, July 15th. JPMorgan Chase & Co. upgraded shares of Investment Technology Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $24.00 to $25.00 in a report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Investment Technology Group from a “hold” rating to a “buy” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Investment Technology Group currently has a consensus rating of “Buy” and an average price target of $25.00.

Investment Technology Group Company Profile

Investment Technology Group, Inc operates as a financial technology company in the United States, Canada, Europe, and the Asia Pacific. The company offers various solutions for asset managers and broker-dealers in the areas of execution services, workflow technology, and analytics that provide trade execution services and solutions for portfolio management, as well as pre-trade analytics, and post-trade analytics and processing.

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

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