Bronte Capital Management Pty Ltd. Sells 643,478 Shares of Interactive Brokers Group, Inc. $IBKR

Bronte Capital Management Pty Ltd. cut its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 26.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,761,171 shares of the financial services provider’s stock after selling 643,478 shares during the quarter. Interactive Brokers Group comprises 16.5% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its biggest position. Bronte Capital Management Pty Ltd. owned approximately 0.10% of Interactive Brokers Group worth $121,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IBKR. AQR Capital Management LLC boosted its position in shares of Interactive Brokers Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after buying an additional 2,713 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Interactive Brokers Group by 1,072.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,580 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 5,104 shares during the period. QRG Capital Management Inc. raised its stake in shares of Interactive Brokers Group by 332.1% during the second quarter. QRG Capital Management Inc. now owns 25,311 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 19,454 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Interactive Brokers Group in the second quarter worth about $214,000. Finally, DAVENPORT & Co LLC grew its position in Interactive Brokers Group by 316.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 31,410 shares of the financial services provider’s stock valued at $1,740,000 after buying an additional 23,873 shares in the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Down 2.0%

Shares of NASDAQ:IBKR opened at $73.44 on Thursday. The company’s fifty day moving average is $68.87 and its two-hundred day moving average is $66.87. Interactive Brokers Group, Inc. has a 12-month low of $32.82 and a 12-month high of $78.80. The company has a market cap of $124.56 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. Interactive Brokers Group had a return on equity of 5.12% and a net margin of 9.44%.The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. Interactive Brokers Group’s quarterly revenue was up 18.5% on a year-over-year basis. Equities research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, February 27th. Interactive Brokers Group’s dividend payout ratio is currently 14.48%.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 60,200 shares of Interactive Brokers Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $75.30, for a total transaction of $4,533,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 400,000 shares of company stock valued at $30,725,122. 2.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Monday, December 29th. Piper Sandler set a $80.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. BMO Capital Markets raised their target price on Interactive Brokers Group from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $91.00 target price on shares of Interactive Brokers Group in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Interactive Brokers Group currently has an average rating of “Buy” and an average target price of $76.39.

About Interactive Brokers Group

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.