Meitav Investment House Ltd. Makes New $266,000 Investment in Interactive Brokers Group, Inc. $IBKR

Meitav Investment House Ltd. acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the second quarter, Holdings Channel.com reports. The fund acquired 4,800 shares of the financial services provider’s stock, valued at approximately $266,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Interactive Brokers Group by 2.8% during the first quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider’s stock valued at $1,714,108,000 after purchasing an additional 280,004 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Interactive Brokers Group by 1,476.3% in the first quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider’s stock worth $237,453,000 after buying an additional 1,343,007 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Interactive Brokers Group by 13.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider’s stock worth $203,710,000 after acquiring an additional 145,870 shares in the last quarter. Invesco Ltd. increased its position in shares of Interactive Brokers Group by 45.6% in the first quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider’s stock worth $184,668,000 after acquiring an additional 349,255 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Interactive Brokers Group by 8.7% in the 1st quarter. Northern Trust Corp now owns 952,772 shares of the financial services provider’s stock valued at $157,770,000 after acquiring an additional 76,283 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $69.35 on Wednesday. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $71.78. The stock’s 50-day moving average is $64.50 and its two-hundred day moving average is $54.99. The firm has a market cap of $117.63 billion, a P/E ratio of 35.66, a PEG ratio of 2.86 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business posted $1.76 EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, research analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 16.49%.

Analyst Upgrades and Downgrades

IBKR has been the topic of several research analyst reports. Barclays lifted their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Piper Sandler upped their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. Finally, BMO Capital Markets started coverage on Interactive Brokers Group in a report on Friday, October 3rd. They issued an “outperform” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Insider Activity

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the transaction, the chief financial officer directly owned 28,289 shares of the company’s stock, valued at $1,860,850.42. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 1,205,683 shares of company stock valued at $77,217,965. 2.97% of the stock is currently owned by insiders.

Interactive Brokers Group Company Profile

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.