JPMorgan Chase & Co. Decreases Holdings in Interactive Brokers Group, Inc. $IBKR

JPMorgan Chase & Co. cut its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,440,816 shares of the financial services provider’s stock after selling 1,609,640 shares during the quarter. JPMorgan Chase & Co. owned 0.44% of Interactive Brokers Group worth $478,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IBKR. AQR Capital Management LLC grew its position in Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 2,713 shares during the last quarter. Brown Advisory Inc. increased its stake in Interactive Brokers Group by 307.9% in the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after purchasing an additional 10,943 shares during the period. Cerity Partners LLC purchased a new position in Interactive Brokers Group in the 2nd quarter worth approximately $318,000. Daiwa Securities Group Inc. increased its stake in Interactive Brokers Group by 291.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after purchasing an additional 26,500 shares during the period. Finally, AXA S.A. increased its stake in Interactive Brokers Group by 128.1% in the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 7,197 shares during the period. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Down 1.1%

Shares of NASDAQ IBKR opened at $85.42 on Thursday. Interactive Brokers Group, Inc. has a 52 week low of $49.30 and a 52 week high of $91.02. The firm’s fifty day moving average is $80.32 and its 200 day moving average is $73.14. The company has a market cap of $144.90 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 2.39 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 EPS. Equities research analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is presently 15.09%.

Wall Street Analyst Weigh In

IBKR has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Interactive Brokers Group in a research note on Monday. They issued an “outperform” rating and a $101.00 target price on the stock. Zacks Research downgraded shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Barclays lifted their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price on the stock. Finally, The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average target price of $85.22.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

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.