Corient Private Wealth LLC Raises Stock Position in Interactive Brokers Group, Inc. $IBKR

Corient Private Wealth LLC grew its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,886 shares of the financial services provider’s stock after acquiring an additional 14,378 shares during the period. Corient Private Wealth LLC’s holdings in Interactive Brokers Group were worth $5,717,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Interactive Brokers Group in the 4th quarter worth approximately $453,146,000. Orbis Allan Gray Ltd raised its holdings in Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock worth $539,697,000 after purchasing an additional 6,246,715 shares during the last quarter. Bank of America Corp DE raised its holdings in Interactive Brokers Group by 225.4% during the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock worth $420,834,000 after purchasing an additional 5,260,923 shares during the last quarter. State Street Corp boosted its position in Interactive Brokers Group by 23.2% during the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock worth $1,283,221,000 after purchasing an additional 3,517,729 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Interactive Brokers Group by 44.1% during the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock worth $533,026,000 after purchasing an additional 2,534,772 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Buying and Selling

In related news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on IBKR shares. BMO Capital Markets upped their target price on Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Wolfe Research started coverage on Interactive Brokers Group in a research note on Monday, June 8th. They set an “outperform” rating and a $101.00 price target for the company. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a research report on Friday, May 1st. Barclays increased their price objective on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler raised their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.22.

Interactive Brokers Group Stock Performance

IBKR stock opened at $92.16 on Friday. The stock’s 50 day moving average price is $85.42 and its 200 day moving average price is $75.44. The firm has a market cap of $156.34 billion, a P/E ratio of 39.72, a PEG ratio of 2.56 and a beta of 1.32. Interactive Brokers Group, Inc. has a 1 year low of $51.95 and a 1 year high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the business posted $1.94 earnings per share. Interactive Brokers Group’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts predict that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were paid a dividend of $0.0875 per share. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. Interactive Brokers Group’s dividend payout ratio is 15.09%.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.