Flagship Harbor Advisors LLC Acquires 9,774 Shares of Interactive Brokers Group, Inc. $IBKR

Flagship Harbor Advisors LLC increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 380.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,341 shares of the financial services provider’s stock after buying an additional 9,774 shares during the period. Flagship Harbor Advisors LLC’s holdings in Interactive Brokers Group were worth $684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IBKR. Mirae Asset Global Investments Co. Ltd. acquired a new position in Interactive Brokers Group during the first quarter valued at approximately $78,000. New York State Teachers Retirement System grew its holdings in Interactive Brokers Group by 10.5% during the first quarter. New York State Teachers Retirement System now owns 77,387 shares of the financial services provider’s stock valued at $12,815,000 after purchasing an additional 7,360 shares during the period. Vontobel Holding Ltd. grew its holdings in Interactive Brokers Group by 94.5% during the first quarter. Vontobel Holding Ltd. now owns 9,990 shares of the financial services provider’s stock valued at $1,654,000 after purchasing an additional 4,853 shares during the period. DAVENPORT & Co LLC grew its holdings in Interactive Brokers Group by 28.7% during the first quarter. DAVENPORT & Co LLC now owns 7,537 shares of the financial services provider’s stock valued at $1,248,000 after purchasing an additional 1,681 shares during the period. Finally, Private Trust Co. NA grew its holdings in Interactive Brokers Group by 174.0% during the first quarter. Private Trust Co. NA now owns 1,444 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 917 shares during the period. 23.80% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Paul Jonathan Brody sold 116,861 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares of the company’s stock, valued at approximately $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,220,797 shares of company stock worth $78,337,744 over the last three months. Insiders own 2.97% of the company’s stock.

Interactive Brokers Group Trading Up 2.7%

Shares of IBKR opened at $70.36 on Friday. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $73.35. The firm has a fifty day simple moving average of $66.15 and a 200 day simple moving average of $58.43. The stock has a market capitalization of $119.34 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.16 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. As a group, research analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is presently 15.38%.

Analyst Ratings Changes

A number of brokerages recently issued reports on IBKR. CICC Research began coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They set an “outperform” rating and a $78.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. Barclays set a $80.00 price target on shares of Interactive Brokers Group and gave the company an “overweight” rating in a report on Friday, October 17th. Zacks Research cut shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, BMO Capital Markets upped their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.08.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.