Rakuten Investment Management Inc. grew its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 10.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 79,380 shares of the financial services provider’s stock after purchasing an additional 7,801 shares during the period. Rakuten Investment Management Inc.’s holdings in Interactive Brokers Group were worth $6,841,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of Interactive Brokers Group in the 2nd quarter valued at $210,639,000. Bessemer Group Inc. raised its stake in Interactive Brokers Group by 156.0% during the 1st quarter. Bessemer Group Inc. now owns 3,922,736 shares of the financial services provider’s stock worth $263,097,000 after acquiring an additional 2,390,247 shares in the last quarter. Amundi lifted its position in Interactive Brokers Group by 62.4% in the first quarter. Amundi now owns 2,433,236 shares of the financial services provider’s stock valued at $163,197,000 after acquiring an additional 934,843 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Interactive Brokers Group by 1,240.2% in the third quarter. Vontobel Holding Ltd. now owns 405,261 shares of the financial services provider’s stock valued at $34,617,000 after acquiring an additional 375,022 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Interactive Brokers Group by 1,393.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 262,984 shares of the financial services provider’s stock valued at $17,638,000 after acquiring an additional 245,378 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.
Insiders Place Their Bets
In other Interactive Brokers Group news, Director Lawrence Harris sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $82.61, for a total value of $2,065,250.00. Following the transaction, the director directly owned 148,482 shares of the company’s stock, valued at approximately $12,266,098.02. The trade was a 14.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have issued reports on IBKR. Seaport Research Partners upgraded shares of Interactive Brokers Group to a “buy” rating in a research note on Monday, October 12th. Rothschild & Co Redburn lifted their target price on Interactive Brokers Group from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Bank of America reissued a “buy” rating and issued a $116.00 target price (up from $114.00) on shares of Interactive Brokers Group in a report on Monday, October 5th. Capital One Financial set a $105.00 target price on Interactive Brokers Group in a report on Tuesday, October 6th. Finally, Evercore initiated coverage on Interactive Brokers Group in a research report on Monday, October 12th. They issued an “outperform” rating and a $100.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.87.
Get Our Latest Research Report on IBKR
Interactive Brokers Group Trading Down 6.6%
Shares of IBKR stock opened at $72.73 on Friday. The business’s 50 day moving average is $86.81 and its two-hundred day moving average is $82.95. Interactive Brokers Group, Inc. has a twelve month low of $58.95 and a twelve month high of $98.75. The company has a market capitalization of $123.74 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last released its earnings results on Thursday, October 15th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. Interactive Brokers Group had a return on equity of 5.38% and a net margin of 10.03%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current fiscal year.
Interactive Brokers Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Tuesday, December 1st will be given a $0.15 dividend. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.0875. The ex-dividend date is Tuesday, December 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Interactive Brokers Group’s payout ratio is 23.08%.
Interactive Brokers Group Profile
Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and portfolio management services to individual investors, institutional clients, financial advisers, hedge funds, proprietary trading firms and introducing brokers. Through its subsidiaries, the company offers access to a broad range of markets and financial instruments, including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and certain digital assets.
Interactive Brokers provides its services through platforms such as Trader Workstation, IBKR Mobile and the Client Portal, as well as application programming interfaces for automated and institutional trading.
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