Howe & Rusling Inc. Acquires New Stake in Interactive Brokers Group, Inc. $IBKR

Howe & Rusling Inc. acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,776 shares of the financial services provider’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBKR. N.E.W. Advisory Services LLC purchased a new stake in shares of Interactive Brokers Group during the first quarter worth about $26,000. ORG Partners LLC boosted its position in Interactive Brokers Group by 312.9% during the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 363 shares during the last quarter. Huntington National Bank boosted its position in Interactive Brokers Group by 51.8% during the second quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 176 shares during the last quarter. Contravisory Investment Management Inc. grew its stake in Interactive Brokers Group by 300.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 423 shares during the period. Finally, Private Wealth Asset Management LLC raised its holdings in Interactive Brokers Group by 300.0% in the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 435 shares during the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBKR has been the topic of several analyst reports. BMO Capital Markets raised their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. CICC Research assumed coverage on Interactive Brokers Group in a research note on Monday, October 27th. They issued an “outperform” rating and a $78.00 price target on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $91.00 price target on shares of Interactive Brokers Group in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Interactive Brokers Group in a report on Wednesday. Finally, Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.08.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $61.56 on Friday. The business has a 50-day moving average of $67.74 and a two-hundred day moving average of $61.02. The firm has a market capitalization of $104.41 billion, a PE ratio of 29.56, a P/E/G ratio of 2.16 and a beta of 1.22. 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 released 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. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The company’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. As a group, research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The firm 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 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 payout ratio is currently 15.38%.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 28,289 shares of the company’s stock, valued at $1,860,850.42. This trade represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence E. Harris sold 10,645 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $69.00, for a total value of $734,505.00. Following the transaction, the director owned 198,704 shares in the company, valued at approximately $13,710,576. This represents a 5.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,026,711 shares of company stock valued at $65,238,880 over the last 90 days. Corporate insiders own 2.97% of the company’s stock.

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.