State Board of Administration of Florida Retirement System Has $23.66 Million Stake in Interactive Brokers Group, Inc. $IBKR

State Board of Administration of Florida Retirement System lifted its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 305.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 426,960 shares of the financial services provider’s stock after purchasing an additional 321,780 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Interactive Brokers Group were worth $23,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. ORG Partners LLC raised its stake in shares of Interactive Brokers Group by 312.9% during the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 363 shares during the last quarter. Huntington National Bank lifted its holdings in Interactive Brokers Group by 51.8% during the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock worth $29,000 after buying an additional 176 shares during the period. Contravisory Investment Management Inc. grew its position in shares of 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 valued at $31,000 after buying an additional 423 shares during the last quarter. Private Wealth Asset Management LLC increased its stake in shares of Interactive Brokers Group by 300.0% in the second quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after buying an additional 435 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Interactive Brokers Group in the second quarter valued at about $32,000. Institutional investors own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IBKR shares. Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Interactive Brokers Group in a research note on Tuesday. CICC Research began coverage on Interactive Brokers Group in a research note on Monday, October 27th. They issued an “outperform” rating and a $78.00 target price on the stock. Barclays set a $80.00 target price on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Piper Sandler set a $80.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

Insider Activity at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the sale, the chief financial officer owned 158,954 shares in the company, valued at approximately $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence E. Harris sold 22,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total value of $1,487,860.00. Following the transaction, the director directly owned 231,704 shares of the company’s stock, valued at approximately $15,670,141.52. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,026,711 shares of company stock worth $65,238,880 over the last quarter. Insiders own 2.97% of the company’s stock.

Interactive Brokers Group Trading Up 1.3%

Shares of Interactive Brokers Group stock opened at $65.02 on Friday. The company’s fifty day simple moving average is $67.73 and its two-hundred day simple moving average is $61.82. The company has a market cap of $110.27 billion, a P/E ratio of 31.22, a PEG 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 issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. Interactive Brokers Group’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. Analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Interactive Brokers Group’s payout ratio is currently 15.38%.

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.