Interactive Brokers Group, Inc. $IBKR is Kennondale Capital Management LLC’s Largest Position

Kennondale Capital Management LLC raised its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 300.0% during the second quarter, Holdings Channel.com reports. The fund owned 77,675 shares of the financial services provider’s stock after purchasing an additional 58,256 shares during the quarter. Interactive Brokers Group accounts for approximately 4.4% of Kennondale Capital Management LLC’s investment portfolio, making the stock its largest position. Kennondale Capital Management LLC’s holdings in Interactive Brokers Group were worth $4,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBKR. N.E.W. Advisory Services LLC purchased a new position in Interactive Brokers Group during the 1st quarter valued at about $26,000. ORG Partners LLC increased its stake in shares of Interactive Brokers Group by 312.9% during the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after buying an additional 363 shares during the period. Huntington National Bank increased its stake in shares of Interactive Brokers Group by 51.8% during the second quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after buying an additional 176 shares during the period. Contravisory Investment Management Inc. raised its holdings in shares of 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 valued at $31,000 after acquiring an additional 423 shares in the last quarter. Finally, Private Wealth Asset Management LLC lifted its stake in Interactive Brokers Group by 300.0% in the second quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 435 shares during the period. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Up 1.2%

IBKR stock opened at $63.17 on Wednesday. The business has a 50 day moving average of $67.71 and a 200 day moving average of $61.60. The firm has a market cap of $107.15 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 earnings per share. On average, research analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, December 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s payout ratio is 15.38%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IBKR shares. CICC Research initiated coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They issued an “outperform” rating and a $78.00 price target on the stock. BMO Capital Markets boosted their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Zacks Research upgraded shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. The Goldman Sachs Group reiterated a “buy” rating and set a $91.00 target price on shares of Interactive Brokers Group in a report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Interactive Brokers Group in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $72.08.

Insider Activity at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence E. Harris sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the completion of the transaction, the director owned 231,704 shares of the company’s stock, valued at approximately $15,670,141.52. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,026,711 shares of company stock worth $65,238,880. Insiders own 2.97% of the company’s stock.

About Interactive Brokers Group

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.