M&T Bank Corp Purchases 7,570 Shares of Interactive Brokers Group, Inc. $IBKR

M&T Bank Corp raised its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 34.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,702 shares of the financial services provider’s stock after purchasing an additional 7,570 shares during the quarter. M&T Bank Corp’s holdings in Interactive Brokers Group were worth $1,910,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC grew its stake in shares of Interactive Brokers Group by 1.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 11,483 shares of the financial services provider’s stock valued at $738,000 after acquiring an additional 143 shares during the period. Deltec Asset Management LLC bought a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $491,000. Golden State Equity Partners bought a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $245,000. HB Wealth Management LLC grew its stake in shares of Interactive Brokers Group by 8.0% during the 4th quarter. HB Wealth Management LLC now owns 9,776 shares of the financial services provider’s stock valued at $629,000 after acquiring an additional 723 shares during the period. Finally, Davidson Capital Management Inc. grew its stake in shares of Interactive Brokers Group by 46,767.3% during the 4th quarter. Davidson Capital Management Inc. now owns 22,965 shares of the financial services provider’s stock valued at $1,477,000 after acquiring an additional 22,916 shares during the period. 23.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Interactive Brokers Group from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Piper Sandler boosted their price objective on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a research note on Friday, May 1st. Finally, Jefferies Financial Group cut their price objective on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.25.

Insider Activity

In other news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

Interactive Brokers Group Trading Up 0.8%

NASDAQ IBKR opened at $84.42 on Friday. The stock’s 50 day moving average is $72.20 and its 200 day moving average is $70.28. Interactive Brokers Group, Inc. has a 12 month low of $46.10 and a 12 month high of $87.37. The stock has a market cap of $143.21 billion, a PE ratio of 36.39, a P/E/G ratio of 2.31 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results 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 company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the firm earned $1.94 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.0875 per share. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 13.79%.

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.