Tower Research Capital LLC TRC Cuts Stock Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)
Tower Research Capital LLC TRC lessened its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 66.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,833 shares of the financial services provider’s stock after selling 9,774 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Interactive Brokers Group were worth $418,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Interactive Brokers Group by 7.0% during the third quarter. Vanguard Group Inc. now owns 9,035,116 shares of the financial services provider’s stock worth $577,435,000 after buying an additional 592,266 shares in the last quarter. BlackRock Inc. raised its position in shares of Interactive Brokers Group by 0.8% in the first quarter. BlackRock Inc. now owns 8,972,309 shares of the financial services provider’s stock valued at $740,754,000 after buying an additional 69,018 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Interactive Brokers Group by 0.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,569,260 shares of the financial services provider’s stock valued at $628,778,000 after buying an additional 68,013 shares during the last quarter. Cantillon Capital Management LLC raised its position in shares of Interactive Brokers Group by 6.4% in the second quarter. Cantillon Capital Management LLC now owns 3,834,468 shares of the financial services provider’s stock valued at $318,529,000 after buying an additional 230,068 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its position in shares of Interactive Brokers Group by 6.5% in the third quarter. Greenwich Wealth Management LLC now owns 3,117,859 shares of the financial services provider’s stock valued at $269,882,000 after buying an additional 189,555 shares during the last quarter. Hedge funds and other institutional investors own 21.56% of the company’s stock.
Interactive Brokers Group Price Performance
Shares of IBKR stock opened at $107.91 on Friday. The firm has a market cap of $45.43 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. The company has a 50-day moving average of $96.51 and a two-hundred day moving average of $88.78. Interactive Brokers Group, Inc. has a 1-year low of $70.83 and a 1-year high of $112.50.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Interactive Brokers Group had a return on equity of 4.66% and a net margin of 7.72%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $1.30 EPS. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 6.07 EPS for the current fiscal year.
Interactive Brokers Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, February 29th. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 7.07%.
Insiders Place Their Bets
In other news, insider Thomas Aj Frank sold 13,189 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $86.13, for a total value of $1,135,968.57. Following the completion of the transaction, the insider now owns 630,023 shares of the company’s stock, valued at $54,263,880.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Thomas Aj Frank sold 13,189 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $86.13, for a total value of $1,135,968.57. Following the completion of the transaction, the insider now owns 630,023 shares of the company’s stock, valued at $54,263,880.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Earl H. Nemser sold 25,782 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $95.71, for a total transaction of $2,467,595.22. Following the completion of the transaction, the insider now directly owns 208,770 shares of the company’s stock, valued at approximately $19,981,376.70. The disclosure for this sale can be found here. Insiders sold a total of 520,027 shares of company stock valued at $48,369,714 over the last 90 days. 3.34% of the stock is owned by company insiders.
Analysts Set New Price Targets
IBKR has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Interactive Brokers Group from $108.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Redburn Atlantic initiated coverage on shares of Interactive Brokers Group in a research report on Friday, December 1st. They issued a “buy” rating and a $100.00 target price for the company. Finally, The Goldman Sachs Group upgraded shares of Interactive Brokers Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $88.00 to $102.00 in a research report on Tuesday, January 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.38.
Get Our Latest Stock Analysis on Interactive Brokers Group
About Interactive Brokers Group
Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company specializes in routing, executing, and processing trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), metals, and cryptocurrencies. It also custodies and services accounts for hedge and mutual funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.
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