Interactive Brokers Group (NASDAQ:IBKR) Director Sells $2,065,250.00 in Stock

Interactive Brokers Group, Inc. (NASDAQ:IBKR) Director Lawrence Harris sold 25,000 shares of Interactive Brokers Group stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $82.61, for a total value of $2,065,250.00. Following the sale, the director owned 148,482 shares of the company’s stock, valued at approximately $12,266,098.02. This trade represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Interactive Brokers Group Trading Down 6.0%

Shares of IBKR opened at $76.90 on Friday. The firm has a fifty day moving average price of $88.40 and a 200-day moving average price of $82.88. The firm has a market capitalization of $130.84 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.26 and a beta of 1.37. Interactive Brokers Group, Inc. has a 12-month low of $58.95 and a 12-month high of $98.75.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.67 EPS for the quarter, hitting the consensus estimate of $0.67. Interactive Brokers Group had a net margin of 10.03% and a return on equity of 5.38%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm posted $0.57 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. Analysts predict that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Tuesday, December 1st will be paid a $0.15 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.0875. Interactive Brokers Group’s payout ratio is currently 13.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rakuten Investment Management Inc. lifted its holdings in shares of Interactive Brokers Group by 10.9% during the 3rd quarter. Rakuten Investment Management Inc. now owns 79,380 shares of the financial services provider’s stock valued at $6,841,000 after purchasing an additional 7,801 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new position in Interactive Brokers Group during the 3rd quarter worth $256,000. Oregon Public Employees Retirement Fund grew its stake in Interactive Brokers Group by 1.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 55,643 shares of the financial services provider’s stock worth $4,753,000 after buying an additional 810 shares during the last quarter. Gallacher Capital Management LLC purchased a new position in Interactive Brokers Group during the 3rd quarter worth $209,000. Finally, BOCHK Asset Management Ltd acquired a new position in Interactive Brokers Group during the 3rd quarter valued at about $26,000. 23.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on IBKR. Rothschild & Co Redburn lifted their price target on shares of Interactive Brokers Group from $94.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Wells Fargo & Company initiated coverage on Interactive Brokers Group in a research note on Friday, October 2nd. They issued an “overweight” rating and a $102.00 price objective on the stock. Piper Sandler set a $109.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group restated a “buy” rating and set a $111.00 price objective on shares of Interactive Brokers Group in a report on Thursday, October 1st. Finally, Seaport Research Partners raised Interactive Brokers Group to a “buy” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.87.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and portfolio management services to individual investors, institutional clients, financial advisers, hedge funds, proprietary trading firms and introducing brokers. Through its subsidiaries, the company offers access to a broad range of markets and financial instruments, including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and certain digital assets.

Interactive Brokers provides its services through platforms such as Trader Workstation, IBKR Mobile and the Client Portal, as well as application programming interfaces for automated and institutional trading.