Handelsbanken Fonder AB Buys 25,307 Shares of Interactive Brokers Group, Inc. $IBKR

Handelsbanken Fonder AB lifted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 42.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,893 shares of the financial services provider’s stock after purchasing an additional 25,307 shares during the period. Handelsbanken Fonder AB’s holdings in Interactive Brokers Group were worth $4,704,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IBKR. Prudential PLC increased its stake in shares of Interactive Brokers Group by 309.0% in the 2nd quarter. Prudential PLC now owns 32,772 shares of the financial services provider’s stock valued at $1,816,000 after buying an additional 24,759 shares during the period. Bronte Capital Management Pty Ltd. boosted its holdings in Interactive Brokers Group by 356.7% in the second quarter. Bronte Capital Management Pty Ltd. now owns 2,404,649 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 1,878,065 shares during the last quarter. Howe & Rusling Inc. bought a new position in Interactive Brokers Group in the second quarter valued at about $265,000. Main Management ETF Advisors LLC increased its position in Interactive Brokers Group by 306.7% in the second quarter. Main Management ETF Advisors LLC now owns 26,388 shares of the financial services provider’s stock worth $1,462,000 after purchasing an additional 19,899 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Interactive Brokers Group by 312.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 2,059,466 shares of the financial services provider’s stock worth $114,115,000 after purchasing an additional 1,559,866 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on IBKR shares. BMO Capital Markets raised their target price on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. CICC Research began coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They issued an “outperform” rating and a $78.00 price objective on the stock. Piper Sandler set a $80.00 price objective on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $91.00 target price on shares of Interactive Brokers Group in a report on Friday, October 17th. Finally, Zacks Research raised Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and a consensus price target of $72.08.

Insiders Place Their Bets

In related news, CFO Paul Jonathan Brody sold 17,058 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $65.78, for a total value of $1,122,075.24. Following the completion of the transaction, the chief financial officer directly owned 28,289 shares in the company, valued at approximately $1,860,850.42. The trade was a 37.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence E. Harris sold 10,645 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $69.00, for a total value of $734,505.00. Following the sale, the director directly owned 198,704 shares of the company’s stock, valued at approximately $13,710,576. The trade was a 5.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,026,711 shares of company stock worth $65,238,880 over the last ninety days. 2.97% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Stock Performance

Shares of NASDAQ:IBKR opened at $62.43 on Tuesday. The company has a 50 day moving average price of $67.69 and a two-hundred day moving average price of $61.48. The company has a market capitalization of $105.89 billion, a PE ratio of 29.98, a PEG ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm posted $1.61 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

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

Interactive Brokers Group 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.