Interactive Brokers Group, Inc. $IBKR Stake Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 935,380 shares of the financial services provider’s stock after acquiring an additional 75,484 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Interactive Brokers Group were worth $62,736,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Reflection Asset Management purchased a new stake in Interactive Brokers Group in the 4th quarter worth about $26,000. IMA Advisory Services Inc. boosted its position in Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 178 shares during the period. Tobam purchased a new position in Interactive Brokers Group during the 4th quarter valued at about $30,000. Entrust Financial LLC purchased a new position in Interactive Brokers Group during the 4th quarter valued at about $31,000. Finally, SHP Wealth Management acquired a new position in shares of Interactive Brokers Group in the 4th quarter valued at about $31,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the transaction, the director owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IBKR. Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group lowered their price objective on shares of Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wolfe Research initiated coverage on shares of Interactive Brokers Group in a research note on Monday, June 8th. They issued an “outperform” rating and a $101.00 price objective on the stock. Keefe, Bruyette & Woods started coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price for the company. Finally, China Renaissance started coverage on shares of Interactive Brokers Group in a research note on Tuesday, July 7th. They set a “hold” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.25.

Interactive Brokers Group Trading Down 1.2%

NASDAQ IBKR traded down $1.19 on Friday, reaching $94.09. The stock had a trading volume of 2,399,513 shares, compared to its average volume of 4,361,864. Interactive Brokers Group, Inc. has a 1 year low of $58.18 and a 1 year high of $97.84. The business has a 50 day moving average price of $88.42 and a 200 day moving average price of $77.50. The company has a market capitalization of $159.61 billion, a price-to-earnings ratio of 40.56, a P/E/G ratio of 2.60 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share 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 the consensus estimate of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the business earned $1.94 EPS. On average, analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were issued a $0.0875 dividend. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 1st. Interactive Brokers Group’s dividend payout ratio is currently 15.09%.

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.