Pinnacle Wealth Management LLC Acquires 25,401 Shares of Interactive Brokers Group, Inc. $IBKR

Pinnacle Wealth Management LLC boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 772.8% in the second quarter, Holdings Channel reports. The firm owned 28,688 shares of the financial services provider’s stock after purchasing an additional 25,401 shares during the quarter. Pinnacle Wealth Management LLC’s holdings in Interactive Brokers Group were worth $1,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBKR. Vanguard Group Inc. raised its stake in shares of Interactive Brokers Group by 2.8% in 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 acquiring an additional 280,004 shares during the last quarter. American Century Companies Inc. raised its stake 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 valued at $237,453,000 after acquiring an additional 1,343,007 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake 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 valued at $203,710,000 after acquiring an additional 145,870 shares during the last quarter. Invesco Ltd. raised its stake 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 valued at $184,668,000 after acquiring an additional 349,255 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Interactive Brokers Group by 8.7% in the first 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 during the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $66.23 on Friday. The firm has a market cap of $112.34 billion, a P/E ratio of 31.80, a P/E/G ratio of 2.71 and a beta of 1.22. The firm has a 50 day simple moving average of $65.30 and a 200 day simple moving average of $56.47. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.17%. Interactive Brokers Group’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. On average, sell-side analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group’s payout ratio is currently 15.38%.

Insider Buying and Selling

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of Interactive Brokers Group 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 completion of the sale, the chief financial officer owned 28,289 shares of the company’s stock, valued at approximately $1,860,850.42. The trade was a 37.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 1,205,683 shares of company stock worth $77,217,965. 2.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IBKR has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler set a $80.00 target price on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group reiterated a “buy” rating and issued a $91.00 target price on shares of Interactive Brokers Group in a research note on Friday. Wall Street Zen upgraded shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, Citigroup raised their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.34.

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.