Bay Harbor Wealth Management LLC Grows Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Bay Harbor Wealth Management LLC boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 313.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,450 shares of the financial services provider’s stock after purchasing an additional 1,858 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Interactive Brokers Group were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. QRG Capital Management Inc. raised its stake in Interactive Brokers Group by 332.1% during the second quarter. QRG Capital Management Inc. now owns 25,311 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 19,454 shares in the last quarter. Boyar Asset Management Inc. purchased a new stake in Interactive Brokers Group during the second quarter valued at $271,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Interactive Brokers Group in the second quarter valued at $312,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Interactive Brokers Group by 1,072.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,580 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 5,104 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its stake in shares of Interactive Brokers Group by 1,884.2% in the second quarter. ASR Vermogensbeheer N.V. now owns 4,008 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 3,806 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Buying and Selling at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $65.78, for a total value of $1,122,075.24. Following the sale, the chief financial officer directly owned 28,289 shares in the company, valued at approximately $1,860,850.42. This trade represents a 37.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 1,205,683 shares of company stock valued at $77,217,965. 2.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IBKR. Zacks Research downgraded shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. Citigroup increased their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a research note on Monday, July 7th. BMO Capital Markets began coverage on shares of Interactive Brokers Group in a research note on Friday. They issued an “outperform” rating and a $82.00 target price on the stock. Finally, Barclays increased their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Interactive Brokers Group has an average rating of “Moderate Buy” and an average price target of $64.47.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $70.36 on Friday. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $71.78. The stock has a market capitalization of $119.34 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.89 and a beta of 1.22. The company’s 50-day simple moving average is $64.33 and its 200-day simple moving average is $54.63.

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

Interactive Brokers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 29th. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 16.49%.

Interactive Brokers Group 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.