Assetmark Inc. Reduces Stock Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Assetmark Inc. cut its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 14.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 962 shares of the financial services provider’s stock after selling 159 shares during the quarter. Assetmark Inc.’s holdings in Interactive Brokers Group were worth $134,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBKR. Tortoise Investment Management LLC boosted its stake in Interactive Brokers Group by 76.6% in the 2nd quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 111 shares during the period. Fairfield Financial Advisors LTD purchased a new stake in shares of Interactive Brokers Group in the second quarter worth about $32,000. UMB Bank n.a. lifted its stake in Interactive Brokers Group by 350.0% in the 3rd quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 224 shares in the last quarter. DT Investment Partners LLC raised its holdings in shares of Interactive Brokers Group by 60.1% in the 3rd quarter. DT Investment Partners LLC now owns 389 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 146 shares in the last quarter. Finally, Mendota Financial Group LLC purchased a new position in shares of Interactive Brokers Group during the third quarter worth about $81,000. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock opened at $180.21 on Monday. Interactive Brokers Group, Inc. has a 52-week low of $72.60 and a 52-week high of $181.21. The company’s 50 day moving average price is $147.69 and its 200-day moving average price is $131.23. The stock has a market capitalization of $75.88 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 1.41 and a beta of 0.79.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business earned $1.55 EPS. As a group, equities research analysts forecast that Interactive Brokers Group, Inc. will post 6.82 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. Interactive Brokers Group’s dividend payout ratio is presently 15.27%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $163.00 target price on shares of Interactive Brokers Group in a research note on Wednesday, October 16th. Barclays lowered their price target on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group upped their price objective on Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.00.

Interactive Brokers Group Company 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.