Sumitomo Mitsui Trust Group Inc. Sells 28,313 Shares of Interactive Brokers Group, Inc. $IBKR

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 3.2% during the third quarter, Holdings Channel.com reports. The firm owned 856,778 shares of the financial services provider’s stock after selling 28,313 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Interactive Brokers Group were worth $73,186,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Nykredit A S acquired a new stake in shares of Interactive Brokers Group during the second quarter worth approximately $15,348,000. Engineers Gate Manager LP raised its stake in shares of Interactive Brokers Group by 831.3% in the 2nd quarter. Engineers Gate Manager LP now owns 108,359 shares of the financial services provider’s stock valued at $9,432,000 after purchasing an additional 96,724 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Interactive Brokers Group by 79.4% during the second quarter. TD Waterhouse Canada Inc. now owns 516,646 shares of the financial services provider’s stock worth $48,185,000 after purchasing an additional 228,716 shares during the last quarter. AXQ Capital LP lifted its position in shares of Interactive Brokers Group by 69.6% during the second quarter. AXQ Capital LP now owns 45,065 shares of the financial services provider’s stock worth $3,922,000 after purchasing an additional 18,499 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Interactive Brokers Group by 30.1% in the first quarter. Cetera Investment Advisers now owns 209,311 shares of the financial services provider’s stock worth $14,038,000 after purchasing an additional 48,443 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Stock Up 3.5%

IBKR stock opened at $77.46 on Wednesday. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $98.75. The stock has a market cap of $131.79 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37. The firm’s 50-day simple moving average is $87.71 and its 200 day simple moving average is $82.93.

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

Interactive Brokers Group Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Piper Sandler set a $109.00 price objective on Interactive Brokers Group and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Rothschild & Co Redburn lifted their target price on Interactive Brokers Group from $94.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Capital One Financial set a $105.00 target price on Interactive Brokers Group in a research report on Tuesday, October 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Interactive Brokers Group in a report on Wednesday, September 2nd. Finally, Raymond James Financial assumed coverage on Interactive Brokers Group in a research report on Wednesday, August 26th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.87.

Insider Buying and Selling

In related news, Director Lawrence Harris sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $82.61, for a total transaction of $2,065,250.00. Following the sale, the director owned 148,482 shares of the company’s stock, valued at $12,266,098.02. The trade was a 14.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

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.