Fifth Third Bancorp grew its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 20.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 398,151 shares of the financial services provider’s stock after purchasing an additional 67,308 shares during the quarter. Fifth Third Bancorp’s holdings in Interactive Brokers Group were worth $34,010,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Maryland State Retirement & Pension System grew its stake in Interactive Brokers Group by 11.5% in the third quarter. Maryland State Retirement & Pension System now owns 26,421 shares of the financial services provider’s stock worth $2,257,000 after purchasing an additional 2,727 shares during the period. Ritholtz Wealth Management boosted its stake in Interactive Brokers Group by 71.0% during the third quarter. Ritholtz Wealth Management now owns 38,292 shares of the financial services provider’s stock worth $3,271,000 after acquiring an additional 15,897 shares in the last quarter. Jacobi Capital Management LLC bought a new stake in Interactive Brokers Group during the third quarter worth about $51,000. First Command Advisory Services Inc. grew its holdings in Interactive Brokers Group by 97.0% in the third quarter. First Command Advisory Services Inc. now owns 725 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 357 shares during the period. Finally, Csenge Advisory Group grew its holdings in Interactive Brokers Group by 2.3% in the third quarter. Csenge Advisory Group now owns 14,425 shares of the financial services provider’s stock worth $1,232,000 after purchasing an additional 323 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.
Interactive Brokers Group Trading Down 1.4%
Shares of IBKR opened at $81.33 on Friday. The business’s fifty day simple moving average is $85.33 and its two-hundred day simple moving average is $83.03. Interactive Brokers Group, Inc. has a 12 month low of $58.95 and a 12 month high of $98.75. The company has a market cap of $138.38 billion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 1.35 and a beta of 1.37.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last posted its earnings results on Thursday, October 15th. The financial services provider reported $0.67 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company earned $0.57 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, research analysts forecast that Interactive Brokers Group, Inc. will post 2.69 EPS for the current year.
Interactive Brokers Group Increases Dividend
The firm 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.0875. The ex-dividend date of this dividend is Tuesday, December 1st. Interactive Brokers Group’s payout ratio is 13.46%.
Analysts Set New Price Targets
Several analysts recently weighed in on IBKR shares. Bank of America restated a “buy” rating and issued a $116.00 price target (up from $114.00) on shares of Interactive Brokers Group in a research note on Monday, October 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $100.00 price objective (down from $105.00) on shares of Interactive Brokers Group in a research report on Friday, October 16th. Barclays set a $117.00 price objective on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Friday, October 16th. Wells Fargo & Company started coverage on Interactive Brokers Group in a report on Friday, October 2nd. They issued an “overweight” rating and a $102.00 target price on the stock. Finally, Seaport Research Partners raised Interactive Brokers Group to a “buy” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.87.
Read Our Latest Stock Report on Interactive Brokers Group
Insider Activity at Interactive Brokers Group
In related news, Director Lawrence Harris sold 25,000 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $82.61, for a total transaction of $2,065,250.00. Following the sale, the director directly owned 148,482 shares of the company’s stock, valued at $12,266,098.02. This trade represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is owned by company insiders.
Interactive Brokers Group Company Profile
Interactive Brokers Group, Inc. is an electronic brokerage firm that provides trade execution, clearing and custody services to individual investors and institutional clients, including financial advisers, hedge funds and proprietary trading groups. Its platforms give clients access to a range of investments, including stocks, options, futures, currencies, bonds and funds, with product availability varying by location. The company serves clients in many countries and provides access to markets around the world.
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