Key Points
- Director Lawrence Harris sold 25,000 Interactive Brokers shares at an average price of $82.61, generating $2.07 million and reducing his direct ownership by 14.41% to 148,482 shares.
- Interactive Brokers reported quarterly revenue of $1.87 billion, up 15.6% year over year, while earnings of $0.67 per share matched analyst expectations.
- The company increased its quarterly dividend from $0.0875 to $0.15 per share, implying an annualized dividend of $0.60 and a 0.7% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $102.87.
Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) Director Lawrence Harris sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $82.61, for a total value of $2,065,250.00. Following the completion of the transaction, the director directly owned 148,482 shares in the company, valued at approximately $12,266,098.02. This trade represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Interactive Brokers Group Stock Performance
Interactive Brokers Group stock opened at $81.77 on Friday. The stock has a market capitalization of $139.12 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 1.37 and a beta of 1.37. Interactive Brokers Group, Inc. has a 52-week low of $58.95 and a 52-week high of $98.75. The stock's 50 day moving average price is $88.66 and its two-hundred day moving average price is $82.85.
Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. Interactive Brokers Group had a net margin of 10.03% and a return on equity of 5.38%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the business posted $0.57 EPS. Interactive Brokers Group's revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts forecast that Interactive Brokers Group, Inc. will post 2.69 EPS for the current year.
Interactive Brokers Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Tuesday, December 1st will be issued a $0.15 dividend. The ex-dividend date is Tuesday, December 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.0875. This represents a $0.60 dividend on an annualized basis and a yield of 0.7%. Interactive Brokers Group's dividend payout ratio is 13.46%.
Hedge Funds Weigh In On Interactive Brokers Group
Large investors have recently modified their holdings of the company. BOCHK Asset Management Ltd bought a new stake in shares of Interactive Brokers Group during the third quarter worth about $26,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Interactive Brokers Group by 74.3% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 267,356 shares of the financial services provider's stock worth $22,931,000 after acquiring an additional 114,004 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Interactive Brokers Group in the 3rd quarter worth about $9,833,000. Profund Advisors LLC lifted its position in Interactive Brokers Group by 13.5% in the 3rd quarter. Profund Advisors LLC now owns 4,557 shares of the financial services provider's stock valued at $389,000 after acquiring an additional 541 shares in the last quarter. Finally, Vise Technologies Inc. lifted its position in Interactive Brokers Group by 29.9% in the 3rd quarter. Vise Technologies Inc. now owns 37,648 shares of the financial services provider's stock valued at $3,216,000 after acquiring an additional 8,662 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
IBKR has been the topic of several research reports. China Renaissance began coverage on shares of Interactive Brokers Group in a report on Tuesday, July 7th. They set a "hold" rating and a $99.90 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $104.00 target price on Interactive Brokers Group and gave the company a "buy" rating in a research note on Friday, October 16th. Seaport Research Partners raised Interactive Brokers Group to a "buy" rating in a research report on Monday, October 12th. Jefferies Financial Group boosted their target price on Interactive Brokers Group from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Finally, Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $102.87.
Check Out Our Latest Analysis on IBKR
Interactive Brokers Group Company Profile
(
Get Free Report)
Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and portfolio management services to individual investors, institutional clients, financial advisers, hedge funds, proprietary trading firms and introducing brokers. Through its subsidiaries, the company offers access to a broad range of markets and financial instruments, including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and certain digital assets.
Interactive Brokers provides its services through platforms such as Trader Workstation, IBKR Mobile and the Client Portal, as well as application programming interfaces for automated and institutional trading.
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