BI Asset Management Fondsmaeglerselskab A S Raises Holdings in Interactive Brokers Group, Inc. $IBKR

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 84.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 22,955 shares of the financial services provider’s stock after acquiring an additional 10,502 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Interactive Brokers Group were worth $1,540,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Interactive Brokers Group in the fourth quarter valued at about $453,146,000. Orbis Allan Gray Ltd grew its holdings in Interactive Brokers Group by 178.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock worth $539,697,000 after acquiring an additional 6,246,715 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Interactive Brokers Group by 225.4% in the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after purchasing an additional 5,260,923 shares in the last quarter. State Street Corp raised its holdings in shares of Interactive Brokers Group by 23.2% in the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock valued at $1,283,221,000 after purchasing an additional 3,517,729 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Interactive Brokers Group by 44.1% in the 4th 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 during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Down 2.0%

IBKR opened at $92.79 on Thursday. Interactive Brokers Group, Inc. has a 52-week low of $51.83 and a 52-week high of $97.84. The company has a market cap of $157.40 billion, a P/E ratio of 40.00, a price-to-earnings-growth ratio of 2.62 and a beta of 1.32. The firm’s 50-day moving average price is $85.12 and its 200-day moving average price is $75.24.

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

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a dividend of $0.0875 per share. 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 presently 15.09%.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the business’s 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 sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IBKR shares. 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. Wolfe Research assumed coverage on Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 price objective on the stock. BMO Capital Markets lifted their target price on Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a report on Friday, May 1st. Finally, Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.22.

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.