The Manufacturers Life Insurance Company lowered its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 235,851 shares of the financial services provider’s stock after selling 19,519 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Interactive Brokers Group were worth $15,819,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in IBKR. Quantinno Capital Management LP boosted its holdings in Interactive Brokers Group by 72.9% in the first quarter. Quantinno Capital Management LP now owns 190,798 shares of the financial services provider’s stock valued at $12,797,000 after acquiring an additional 80,419 shares during the last quarter. SummitTX Capital L.P. raised its holdings in Interactive Brokers Group by 992.1% during the 1st quarter. SummitTX Capital L.P. now owns 66,531 shares of the financial services provider’s stock worth $4,462,000 after purchasing an additional 60,439 shares during the last quarter. Progeny 3 Inc. lifted its position in Interactive Brokers Group by 3.1% during the 1st quarter. Progeny 3 Inc. now owns 2,195,640 shares of the financial services provider’s stock valued at $147,262,000 after purchasing an additional 65,880 shares during the period. Endure Capital Management LLC bought a new position in shares of Interactive Brokers Group in the 1st quarter valued at about $2,629,000. Finally, OMERS ADMINISTRATION Corp grew its position in shares of Interactive Brokers Group by 28.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 35,891 shares of the financial services provider’s stock worth $2,407,000 after buying an additional 7,850 shares during the period. Institutional investors and hedge funds own 23.80% of the company’s stock.
Analyst Ratings Changes
IBKR has been the topic of several analyst reports. Bank of America increased their price objective on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. BMO Capital Markets reiterated an “outperform” rating and set a $110.00 target price (up from $105.00) on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Barclays set a $114.00 price target on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, China Renaissance began coverage on Interactive Brokers Group in a report on Tuesday, July 7th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Interactive Brokers Group presently has a consensus rating of “Moderate Buy” and an average target price of $96.89.
Interactive Brokers Group Stock Performance
Shares of NASDAQ IBKR opened at $87.99 on Monday. Interactive Brokers Group, Inc. has a 52-week low of $58.95 and a 52-week high of $97.84. The stock has a market cap of $149.26 billion, a P/E ratio of 35.20, a P/E/G ratio of 1.62 and a beta of 1.34. The firm has a 50 day moving average price of $90.68 and a 200 day moving average price of $80.14.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business posted $0.51 earnings per share. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. Analysts predict that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current fiscal year.
Interactive Brokers Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 14.00%.
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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