Interactive Brokers Group, Inc. $IBKR Stake Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,964 shares of the financial services provider’s stock after selling 10,340 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Interactive Brokers Group were worth $17,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Reflection Asset Management acquired a new stake in Interactive Brokers Group during the fourth quarter valued at $26,000. IMA Advisory Services Inc. increased its position in Interactive Brokers Group by 64.3% in the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Tobam purchased a new stake in shares of Interactive Brokers Group during the 4th quarter worth about $30,000. Entrust Financial LLC purchased a new stake in shares of Interactive Brokers Group during the 4th quarter worth about $31,000. Finally, SHP Wealth Management purchased a new stake in shares of Interactive Brokers Group during the 4th quarter worth about $31,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Down 2.1%

Shares of NASDAQ IBKR opened at $91.33 on Friday. Interactive Brokers Group, Inc. has a 12 month low of $56.33 and a 12 month high of $97.84. The company has a market cap of $154.93 billion, a P/E ratio of 39.37, a P/E/G ratio of 2.58 and a beta of 1.33. The business’s 50 day moving average is $86.38 and its two-hundred day moving average is $76.29.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.Interactive Brokers Group’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 earnings per share. Sell-side analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

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

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the sale, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. This trade represents a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IBKR shares. Jefferies Financial Group lowered their price target on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Monday, April 6th. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a research report on Friday, May 1st. BMO Capital Markets lifted their target price on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Wolfe Research began coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They issued an “outperform” rating and a $101.00 target price for the company. Finally, Weiss Ratings lowered shares of Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.22.

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.