Meeder Asset Management Inc. Decreases Stake in Interactive Brokers Group, Inc. $IBKR

Meeder Asset Management Inc. lessened its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 57.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,787 shares of the financial services provider’s stock after selling 10,705 shares during the quarter. Meeder Asset Management Inc.’s holdings in Interactive Brokers Group were worth $522,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp grew its stake in Interactive Brokers Group by 1.0% during the fourth quarter. State Street Corp now owns 18,836,521 shares of the financial services provider’s stock worth $1,211,377,000 after buying an additional 187,763 shares during the period. Cantillon Capital Management LLC increased its position in shares of Interactive Brokers Group by 0.8% in the fourth quarter. Cantillon Capital Management LLC now owns 12,759,904 shares of the financial services provider’s stock worth $820,589,000 after acquiring an additional 95,878 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Interactive Brokers Group by 17.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider’s stock valued at $750,110,000 after acquiring an additional 1,630,620 shares during the period. Orbis Allan Gray Ltd raised its stake in shares of Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after acquiring an additional 6,246,715 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Interactive Brokers Group by 44.1% during the 4th quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock valued at $533,026,000 after acquiring an additional 2,534,772 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Activity at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the business’s 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 transaction, the director owned 173,482 shares in the company, 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 SEC, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America upped their price target on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Barclays raised their price objective on Interactive Brokers Group from $93.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Jefferies Financial Group decreased their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, China Renaissance started coverage on Interactive Brokers Group in a report on Tuesday, July 7th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.89.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $91.68 on Tuesday. Interactive Brokers Group, Inc. has a 12-month low of $58.95 and a 12-month high of $97.84. The company has a market capitalization of $155.52 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The firm’s fifty day moving average price is $89.57 and its 200 day moving average price is $78.76.

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 analysts’ consensus estimates 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 net margin of 9.65% and a return on equity of 5.19%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 EPS. Analysts forecast that Interactive Brokers Group, Inc. will post 2.55 earnings per share for the current fiscal year.

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.