Morgan Stanley cut its stake in Investment Technology Group, Inc. (NYSE:ITG) by 26.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,457 shares of the financial services provider’s stock after selling 36,105 shares during the period. Morgan Stanley owned about 0.30% of Investment Technology Group worth $2,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ITG. Comerica Bank boosted its stake in Investment Technology Group by 38.3% in the first quarter. Comerica Bank now owns 45,920 shares of the financial services provider’s stock worth $925,000 after buying an additional 12,720 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Investment Technology Group by 17.8% in the first quarter. Bank of New York Mellon Corp now owns 1,907,457 shares of the financial services provider’s stock worth $38,627,000 after buying an additional 287,596 shares in the last quarter. Teachers Advisors LLC boosted its stake in Investment Technology Group by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 53,407 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 1,559 shares in the last quarter. Prudential Financial Inc. boosted its stake in Investment Technology Group by 2.9% in the first quarter. Prudential Financial Inc. now owns 58,768 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 1,670 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Investment Technology Group by 159.6% in the first quarter. Stifel Financial Corp now owns 89,516 shares of the financial services provider’s stock worth $1,812,000 after buying an additional 55,039 shares in the last quarter. 87.64% of the stock is currently owned by institutional investors.

Investment Technology Group, Inc. (NYSE:ITG) traded down 0.15% during mid-day trading on Tuesday, hitting $20.11. The stock had a trading volume of 21,353 shares. Investment Technology Group, Inc. has a one year low of $15.04 and a one year high of $22.69. The stock’s 50 day moving average price is $21.14 and its 200 day moving average price is $20.54. The firm’s market capitalization is $666.14 million.

Investment Technology Group (NYSE:ITG) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by $0.04. The firm had revenue of $121.60 million during the quarter, compared to analysts’ expectations of $124 million. Investment Technology Group had a negative net margin of 1.77% and a positive return on equity of 3.08%. Investment Technology Group’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) EPS. Analysts forecast that Investment Technology Group, Inc. will post $0.59 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.07 per share. The ex-dividend date is Friday, August 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.39%. Investment Technology Group’s dividend payout ratio is currently -107.69%.

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ITG has been the topic of a number of research reports. Zacks Investment Research cut Investment Technology Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. ValuEngine upgraded Investment Technology Group from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Investment Technology Group from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, TheStreet upgraded Investment Technology Group from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.50.

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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