Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys New Stake in Investment Technology Group (ITG)
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Investment Technology Group (NYSE:ITG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 14,200 shares of the financial services provider’s stock, valued at approximately $297,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new position in shares of Investment Technology Group during the 2nd quarter valued at $692,000. Dynamic Technology Lab Private Ltd bought a new stake in Investment Technology Group during the 2nd quarter valued at $305,000. Raymond James & Associates bought a new stake in Investment Technology Group during the 2nd quarter valued at $228,000. Renaissance Technologies LLC increased its stake in Investment Technology Group by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 470,800 shares of the financial services provider’s stock valued at $9,849,000 after purchasing an additional 31,500 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Investment Technology Group by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 73,343 shares of the financial services provider’s stock valued at $1,537,000 after purchasing an additional 3,867 shares in the last quarter. Institutional investors own 87.16% of the company’s stock.
Shares of ITG stock opened at $22.13 on Monday. The firm has a market cap of $730.05 million, a price-to-earnings ratio of 73.77 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.34 and a quick ratio of 1.34. Investment Technology Group has a 12 month low of $17.63 and a 12 month high of $23.96.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, August 21st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, August 20th. This represents a $0.28 dividend on an annualized basis and a yield of 1.27%. Investment Technology Group’s dividend payout ratio (DPR) is presently 93.33%.
A number of brokerages have commented on ITG. Zacks Investment Research lowered shares of Investment Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 14th. JPMorgan Chase & Co. upgraded shares of Investment Technology Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $24.00 to $25.00 in a research note on Thursday, August 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price 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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