6,725 Shares in Interactive Brokers Group, Inc. $IBKR Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS acquired a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,725 shares of the financial services provider’s stock, valued at approximately $451,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Costello Asset Management INC boosted its position in shares of Interactive Brokers Group by 18.9% during the first quarter. Costello Asset Management INC now owns 8,958 shares of the financial services provider’s stock valued at $601,000 after buying an additional 1,423 shares during the last quarter. Ibex Wealth Advisors lifted its stake in Interactive Brokers Group by 3.4% during the 1st quarter. Ibex Wealth Advisors now owns 159,743 shares of the financial services provider’s stock valued at $10,714,000 after acquiring an additional 5,251 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Interactive Brokers Group by 8.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 935,380 shares of the financial services provider’s stock valued at $62,736,000 after acquiring an additional 75,484 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Interactive Brokers Group by 5.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 137,174 shares of the financial services provider’s stock valued at $9,112,000 after acquiring an additional 6,661 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Interactive Brokers Group in the first quarter worth approximately $190,000. Institutional investors own 23.80% of the company’s stock.

Insider Activity

In other news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. This trade represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IBKR shares. Weiss Ratings cut shares of Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Piper Sandler raised their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. BMO Capital Markets lifted their target price on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group decreased their target price on shares of Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Finally, Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average target price of $90.25.

Interactive Brokers Group Stock Down 0.6%

NASDAQ IBKR opened at $93.56 on Tuesday. Interactive Brokers Group, Inc. has a 52 week low of $58.18 and a 52 week high of $97.84. The company has a market capitalization of $158.71 billion, a P/E ratio of 40.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33. The stock’s 50-day moving average price is $88.70 and its 200-day moving average price is $77.78.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $1.94 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. Research analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

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

About Interactive Brokers Group

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.