Comerica Bank Cuts Stock Position in Interactive Brokers Group, Inc. $IBKR

Comerica Bank lessened its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,132 shares of the financial services provider’s stock after selling 1,938 shares during the period. Comerica Bank’s holdings in Interactive Brokers Group were worth $6,811,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Compound Planning Inc. boosted its holdings in Interactive Brokers Group by 1.1% during the 1st quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider’s stock valued at $958,000 after acquiring an additional 62 shares during the period. CWM LLC boosted its holdings in Interactive Brokers Group by 6.6% during the 1st quarter. CWM LLC now owns 1,062 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 66 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Interactive Brokers Group by 0.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider’s stock valued at $1,410,000 after acquiring an additional 70 shares during the period. Ritholtz Wealth Management boosted its holdings in Interactive Brokers Group by 4.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 79 shares during the period. Finally, Joel Isaacson & Co. LLC boosted its holdings in Interactive Brokers Group by 3.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 79 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider owned 461,500 shares of the company’s stock, valued at approximately $31,146,635. This represents a 29.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 233,972 shares of company stock valued at $15,746,449. 2.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IBKR has been the subject of several analyst reports. Citigroup increased their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Piper Sandler increased their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. The Goldman Sachs Group increased their target price on Interactive Brokers Group from $53.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Barclays upped their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, Wall Street Zen upgraded Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Interactive Brokers Group Stock Performance

IBKR opened at $61.79 on Thursday. Interactive Brokers Group, Inc. has a 52-week low of $30.01 and a 52-week high of $68.07. The stock has a market capitalization of $104.80 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 2.58 and a beta of 1.22. The stock’s 50 day moving average price is $60.71 and its 200-day moving average price is $52.00.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. Research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is currently 16.49%.

About Interactive Brokers Group

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.