Whalen Wealth Management Inc. Purchases Shares of 19,278 Interactive Brokers Group, Inc. $IBKR

Whalen Wealth Management Inc. purchased a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the second quarter, HoldingsChannel reports. The firm purchased 19,278 shares of the financial services provider’s stock, valued at approximately $1,068,000.

A number of other institutional investors have also made changes to their positions in IBKR. GAMMA Investing LLC increased its position in shares of Interactive Brokers Group by 34.7% during the first quarter. GAMMA Investing LLC now owns 2,560 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 660 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Interactive Brokers Group by 26.0% during the first quarter. Illinois Municipal Retirement Fund now owns 9,172 shares of the financial services provider’s stock valued at $1,519,000 after acquiring an additional 1,894 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Interactive Brokers Group during the first quarter valued at about $78,000. New York State Teachers Retirement System increased its position in shares of Interactive Brokers Group by 10.5% during the first quarter. New York State Teachers Retirement System now owns 77,387 shares of the financial services provider’s stock valued at $12,815,000 after acquiring an additional 7,360 shares during the last quarter. Finally, ABLE Financial Group LLC increased its position in shares of Interactive Brokers Group by 27.9% during the first quarter. ABLE Financial Group LLC now owns 2,072 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 452 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IBKR has been the subject of a number of research reports. The Goldman Sachs Group restated a “buy” rating and issued a $91.00 price objective on shares of Interactive Brokers Group in a report on Friday, October 17th. CICC Research initiated coverage on shares of Interactive Brokers Group in a report on Monday. They issued an “outperform” rating and a $78.00 price objective for the company. Zacks Research cut shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. Finally, Piper Sandler set a $80.00 price objective on shares of Interactive Brokers Group and gave the company an “overweight” rating in a report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Interactive Brokers Group Stock Down 1.2%

Shares of Interactive Brokers Group stock opened at $68.65 on Wednesday. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $73.35. The company has a 50 day moving average of $65.73 and a 200 day moving average of $57.98. The company has a market capitalization of $116.44 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.17 and a beta of 1.22.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be paid a $0.08 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group’s payout ratio is currently 15.38%.

Insider Buying and Selling

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider owned 461,500 shares in the company, valued at $31,146,635. The trade was a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of Interactive Brokers Group stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the transaction, the chief financial officer owned 158,954 shares of the company’s stock, valued at $10,289,092.42. This represents a 42.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,195,797 shares of company stock valued at $76,606,240 in the last quarter. 2.97% of the stock is owned by insiders.

Interactive Brokers Group 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.