Hsbc Holdings PLC Sells 270,264 Shares of Interactive Brokers Group, Inc. $IBKR

Hsbc Holdings PLC lowered its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 24.1% during the first quarter, HoldingsChannel reports. The firm owned 850,275 shares of the financial services provider’s stock after selling 270,264 shares during the quarter. Hsbc Holdings PLC’s holdings in Interactive Brokers Group were worth $56,791,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IBKR. AQR Capital Management LLC raised its holdings in Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after buying an additional 2,713 shares during the period. Brown Advisory Inc. raised its holdings in shares of Interactive Brokers Group by 307.9% during the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after acquiring an additional 10,943 shares during the period. Cerity Partners LLC acquired a new stake in shares of Interactive Brokers Group during the second quarter worth $318,000. Daiwa Securities Group Inc. lifted its position in Interactive Brokers Group by 291.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock valued at $1,973,000 after acquiring an additional 26,500 shares in the last quarter. Finally, AXA S.A. lifted its position in Interactive Brokers Group by 128.1% in the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock valued at $710,000 after acquiring an additional 7,197 shares in the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $90.53 on Monday. The stock has a market capitalization of $153.57 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.07 and a beta of 1.33. Interactive Brokers Group, Inc. has a 12 month low of $58.95 and a 12 month high of $97.84. The firm has a fifty day simple moving average of $89.43 and a 200 day simple moving average of $78.57.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the business earned $1.94 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that Interactive Brokers Group, Inc. will post 2.55 earnings per share 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 $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio is 15.09%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their target price on Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Zacks Research upgraded Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a research report on Friday, May 1st. Piper Sandler set a $105.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday. Finally, China Renaissance started coverage on Interactive Brokers Group in a research report on Tuesday, July 7th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.89.

Insider Activity

In related news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the sale, the director owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Interactive Brokers Group Company Profile

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.