Mediolanum International Funds Ltd lowered its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 6.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 162,067 shares of the financial services provider’s stock after selling 10,646 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Interactive Brokers Group were worth $10,322,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in IBKR. Covenant Asset Management LLC purchased a new position in Interactive Brokers Group in the 4th quarter worth approximately $3,028,000. Crocodile Capital Partners GmbH purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at approximately $12,041,000. OFI Invest Asset Management purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at approximately $22,356,000. Leonteq Securities AG purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at approximately $1,746,000. Finally, Successful Portfolios LLC bought a new position in shares of Interactive Brokers Group in the fourth quarter worth approximately $1,431,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Piper Sandler set a $105.00 target price on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Wednesday. Barclays increased their price target on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a research report on Friday, May 1st. BMO Capital Markets upped their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Bank of America increased their target price on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.89.
Interactive Brokers Group Stock Performance
Shares of IBKR stock opened at $90.53 on Monday. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $97.84. The firm has a market cap of $153.57 billion, a P/E ratio of 39.02, a P/E/G ratio of 2.07 and a beta of 1.33. The business’s 50 day moving average price is $89.43 and its 200-day moving average price is $78.57.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company earned $1.94 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts predict that Interactive Brokers Group, Inc. will post 2.55 EPS for the current year.
Interactive Brokers Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is presently 15.09%.
Insider Transactions at Interactive Brokers Group
In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the transaction, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.
Interactive Brokers Group Profile
Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.
Its product suite centers on advanced trading platforms and infrastructure.
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