Key Points
- Director Lawrence Harris sold 26,000 shares on April 28 at an average price of $76.93 for a total of $2,000,180, trimming his stake by 13.03% to 173,482 shares valued at roughly $13.35 million.
- Interactive Brokers reported quarterly EPS of $0.60 vs. $0.57 expected and revenue of $1.68 billion (slightly below the $1.69B estimate) with revenue up 17% year-over-year, and analysts hold an average rating of "Moderate Buy" with a $83.25 target.
- The company raised its quarterly dividend to $0.0875 per share (from $0.08), payable June 12 with an ex-dividend date of June 1, representing a $0.35 annualized payout and about a 0.5% yield.
Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) Director Lawrence Harris sold 26,000 shares of the stock in a transaction that occurred on 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 sale, the director owned 173,482 shares in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Interactive Brokers Group Trading Down 0.6%
Shares of NASDAQ IBKR opened at $77.05 on Thursday. Interactive Brokers Group, Inc. has a 12-month low of $41.43 and a 12-month high of $82.88. The company has a market cap of $130.70 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.14 and a beta of 1.25. The stock's 50 day simple moving average is $71.35 and its 200 day simple moving average is $69.86.
Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business earned $1.94 EPS. The firm's revenue was up 17.0% on a year-over-year basis. As a group, equities analysts forecast that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.
Interactive Brokers Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, June 1st will be given a dividend of $0.0875 per share. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, June 1st. Interactive Brokers Group's payout ratio is currently 13.79%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Interactive Brokers Group by 26.4% during the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock valued at $3,637,234,000 after purchasing an additional 11,048,679 shares in the last quarter. State Street Corp grew its position in Interactive Brokers Group by 1.0% in the 4th quarter. State Street Corp now owns 18,836,521 shares of the financial services provider's stock valued at $1,211,377,000 after buying an additional 187,763 shares in the last quarter. Cantillon Capital Management LLC increased its stake in Interactive Brokers Group by 0.8% during the 4th quarter. Cantillon Capital Management LLC now owns 12,759,904 shares of the financial services provider's stock valued at $820,589,000 after buying an additional 95,878 shares during the period. Wellington Management Group LLP increased its stake in Interactive Brokers Group by 17.6% during 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 buying an additional 1,630,620 shares during the period. Finally, Orbis Allan Gray Ltd raised its position in shares of Interactive Brokers Group by 178.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock worth $539,697,000 after buying an additional 6,246,715 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently weighed in on IBKR. Piper Sandler increased their price objective on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. BMO Capital Markets upped their target price on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Zacks Research lowered shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on Interactive Brokers Group from $89.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Interactive Brokers Group has an average rating of "Moderate Buy" and an average target price of $83.25.
Get Our Latest Report on IBKR
About Interactive Brokers Group
(
Get Free Report)
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.
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