California State Teachers Retirement System Trims Stock Holdings in Interactive Brokers Group, Inc. $IBKR

California State Teachers Retirement System trimmed its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 2.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 645,032 shares of the financial services provider’s stock after selling 15,908 shares during the period. California State Teachers Retirement System’s holdings in Interactive Brokers Group were worth $43,262,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in Interactive Brokers Group during the fourth quarter valued at $1,746,000. Covenant Asset Management LLC purchased a new position in Interactive Brokers Group in the fourth quarter worth about $3,028,000. OFI Invest Asset Management purchased a new position in Interactive Brokers Group in the fourth quarter worth about $22,356,000. Successful Portfolios LLC bought a new stake in shares of Interactive Brokers Group during the 4th quarter valued at about $1,431,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Interactive Brokers Group by 747.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 489,748 shares of the financial services provider’s stock valued at $31,496,000 after purchasing an additional 431,970 shares during the period. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock opened at $87.99 on Friday. The stock has a market cap of $149.26 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. The stock has a 50 day moving average price of $90.68 and a 200-day moving average price of $80.08. Interactive Brokers Group, Inc. has a one year low of $58.95 and a one year high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year. Sell-side analysts predict that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.0875 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group’s dividend payout ratio is 14.00%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IBKR shares. Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price objective for the company. Weiss Ratings raised Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a research report on Friday, May 1st. Wolfe Research started coverage on Interactive Brokers Group in a report on Monday, June 8th. They set an “outperform” rating and a $101.00 price target for the company. Finally, Barclays set a $114.00 price target on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and an average target price of $96.89.

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.