Legal & General Group Plc lowered its position in Independent Bank Group, Inc (NASDAQ:IBTX) by 1.7% during the first quarter, Holdings Channel reports. The firm owned 2,680 shares of the bank’s stock after selling 45 shares during the period. Legal & General Group Plc’s holdings in Independent Bank Group were worth $171,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. ClariVest Asset Management LLC boosted its position in Independent Bank Group by 5.3% in the first quarter. ClariVest Asset Management LLC now owns 7,669 shares of the bank’s stock worth $493,000 after buying an additional 385 shares during the period. American International Group Inc. boosted its position in Independent Bank Group by 7.1% in the first quarter. American International Group Inc. now owns 6,841 shares of the bank’s stock worth $440,000 after buying an additional 451 shares during the period. Swiss National Bank boosted its position in Independent Bank Group by 4.0% in the first quarter. Swiss National Bank now owns 18,252 shares of the bank’s stock worth $1,174,000 after buying an additional 700 shares during the period. Acrospire Investment Management LLC boosted its position in Independent Bank Group by 108.5% in the first quarter. Acrospire Investment Management LLC now owns 2,498 shares of the bank’s stock worth $161,000 after buying an additional 1,300 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Independent Bank Group by 51.3% in the first quarter. Envestnet Asset Management Inc. now owns 6,544 shares of the bank’s stock worth $420,000 after buying an additional 2,218 shares during the period. 41.47% of the stock is owned by hedge funds and other institutional investors.

Shares of Independent Bank Group, Inc (NASDAQ IBTX) traded up 2.27% during midday trading on Monday, hitting $58.55. 745 shares of the stock were exchanged. Independent Bank Group, Inc has a 1-year low of $41.92 and a 1-year high of $66.85. The stock’s 50-day moving average price is $59.39 and its 200-day moving average price is $60.93. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 19.56 and a beta of 1.26.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings data on Monday, July 24th. The bank reported $0.82 earnings per share for the quarter, hitting the consensus estimate of $0.82. Independent Bank Group had a return on equity of 8.43% and a net margin of 23.52%. The company had revenue of $80.50 million during the quarter, compared to analyst estimates of $81.31 million. During the same quarter last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up 58.4% on a year-over-year basis. On average, analysts forecast that Independent Bank Group, Inc will post $3.34 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, August 3rd. Independent Bank Group’s dividend payout ratio (DPR) is currently 13.16%.

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A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Independent Bank Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th. Stephens reaffirmed a “buy” rating and set a $71.00 price objective on shares of Independent Bank Group in a research report on Tuesday, July 25th. BidaskClub cut shares of Independent Bank Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Hovde Group raised shares of Independent Bank Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $68.00 to $69.00 in a research report on Wednesday, July 26th. Finally, ValuEngine raised shares of Independent Bank Group from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Independent Bank Group presently has a consensus rating of “Hold” and an average price target of $69.60.

In related news, Director John Webb Jennings III sold 3,000 shares of Independent Bank Group stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $61.78, for a total value of $185,340.00. Following the completion of the sale, the director now owns 38,350 shares of the company’s stock, valued at approximately $2,369,263. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 7.70% of the company’s stock.

About Independent Bank Group

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

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Institutional Ownership by Quarter for Independent Bank Group (NASDAQ:IBTX)

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