Quinn Opportunity Partners LLC Buys 190,452 Shares of Interactive Brokers Group, Inc. $IBKR

Quinn Opportunity Partners LLC raised its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 158.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 311,000 shares of the financial services provider’s stock after buying an additional 190,452 shares during the period. Interactive Brokers Group comprises about 1.4% of Quinn Opportunity Partners LLC’s portfolio, making the stock its 12th biggest position. Quinn Opportunity Partners LLC’s holdings in Interactive Brokers Group were worth $17,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in Interactive Brokers Group by 50.2% in the first quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider’s stock valued at $98,886,000 after buying an additional 199,467 shares during the period. Thrive Wealth Management LLC grew its stake in Interactive Brokers Group by 243.8% during the second quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 6,163 shares during the period. TD Asset Management Inc increased its holdings in Interactive Brokers Group by 312.8% in the second quarter. TD Asset Management Inc now owns 104,644 shares of the financial services provider’s stock worth $5,798,000 after purchasing an additional 79,294 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Interactive Brokers Group by 1,093.9% in the second quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider’s stock valued at $409,000 after buying an additional 6,760 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of Interactive Brokers Group by 237.8% during the 2nd quarter. Truist Financial Corp now owns 202,665 shares of the financial services provider’s stock worth $11,230,000 after buying an additional 142,662 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the sale, the chief financial officer directly owned 158,954 shares of the company’s stock, valued at approximately $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence E. Harris sold 22,000 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total value of $1,487,860.00. Following the completion of the transaction, the director owned 231,704 shares of the company’s stock, valued at $15,670,141.52. This trade represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,026,711 shares of company stock worth $65,238,880 in the last 90 days. Company insiders own 2.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IBKR. BMO Capital Markets boosted 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 report on Friday, October 17th. Barclays set a $80.00 target price on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $91.00 price target on shares of Interactive Brokers Group in a report on Friday, October 17th. Piper Sandler set a $80.00 price objective on Interactive Brokers Group and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, CICC Research began coverage on Interactive Brokers Group in a report on Monday, October 27th. They issued an “outperform” rating and a $78.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Interactive Brokers Group Stock Down 0.4%

Shares of NASDAQ:IBKR opened at $70.87 on Wednesday. The stock has a market cap of $120.21 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.16 and a beta of 1.22. The business’s 50 day moving average is $67.32 and its 200 day moving average is $60.18. Interactive Brokers Group, Inc. has a 12-month low of $32.82 and a 12-month high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the business earned $1.61 EPS. The business’s revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) is 15.38%.

Interactive Brokers Group Company 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.