Griffin Asset Management Inc. Acquires 36,884 Shares of Interactive Brokers Group, Inc. $IBKR

Griffin Asset Management Inc. increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1,084.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 40,284 shares of the financial services provider’s stock after purchasing an additional 36,884 shares during the period. Griffin Asset Management Inc.’s holdings in Interactive Brokers Group were worth $2,232,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBKR. N.E.W. Advisory Services LLC bought a new position in Interactive Brokers Group during the first quarter worth about $26,000. ORG Partners LLC grew its holdings in Interactive Brokers Group by 312.9% during the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 363 shares during the period. Contravisory Investment Management Inc. grew its holdings in Interactive Brokers Group by 300.0% during the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 423 shares during the period. Nvwm LLC bought a new position in Interactive Brokers Group during the first quarter worth about $33,000. Finally, ASR Vermogensbeheer N.V. acquired a new stake in Interactive Brokers Group during the first quarter worth approximately $33,000. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $69.01 on Monday. The company’s 50 day simple moving average is $64.87 and its 200 day simple moving average is $55.64. The stock has a market capitalization of $117.05 billion, a price-to-earnings ratio of 35.48, a price-to-earnings-growth ratio of 2.83 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. As a group, analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, September 1st were issued a $0.08 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s payout ratio is presently 16.49%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IBKR. BMO Capital Markets began coverage on shares of Interactive Brokers Group in a research report on Friday, October 3rd. They set an “outperform” rating and a $82.00 price objective for the company. Citigroup raised their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Wall Street Zen upgraded shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Barclays restated an “overweight” rating and set a $81.00 price objective (up from $73.00) on shares of Interactive Brokers Group in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Interactive Brokers Group in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.47.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider owned 461,500 shares in the company, valued at approximately $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,205,683 shares of company stock worth $77,217,965. 2.97% of the stock is owned by company insiders.

Interactive Brokers Group 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.