Apollon Wealth Management LLC Makes New Investment in Interactive Brokers Group, Inc. $IBKR

Apollon Wealth Management LLC bought a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 4,828 shares of the financial services provider’s stock, valued at approximately $268,000.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position 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 worth $98,886,000 after acquiring an additional 199,467 shares in the last quarter. Thrive Wealth Management LLC lifted its stake in shares of Interactive Brokers Group by 243.8% in the 2nd quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 6,163 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Interactive Brokers Group by 1,093.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 6,760 shares during the period. Truist Financial Corp increased its position 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 valued at $11,230,000 after purchasing an additional 142,662 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Interactive Brokers Group during the 2nd quarter valued at approximately $231,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Interactive Brokers Group Price Performance

IBKR stock opened at $66.23 on Friday. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $73.35. The firm’s 50-day moving average is $65.30 and its 200 day moving average is $56.47. The company has a market capitalization of $112.34 billion, a PE ratio of 31.80, a P/E/G ratio of 2.71 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.17%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. Sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, December 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 15.38%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IBKR shares. Wall Street Zen upgraded Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Zacks Research downgraded shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. BMO Capital Markets lifted their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays set a $80.00 price target on shares of Interactive Brokers Group and gave the company an “overweight” rating in a report on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.34.

Insiders Place Their Bets

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $65.78, for a total value of $1,122,075.24. Following the completion of the sale, the chief financial officer directly owned 28,289 shares in the company, valued at approximately $1,860,850.42. This represents a 37.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 1,205,683 shares of company stock worth $77,217,965. Insiders own 2.97% of the company’s stock.

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.