Bronte Capital Management Pty Ltd. Trims Stake in Interactive Brokers Group, Inc. $IBKR

Bronte Capital Management Pty Ltd. lessened its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 13.8% in the first quarter, HoldingsChannel.com reports. The firm owned 1,281,731 shares of the financial services provider’s stock after selling 204,563 shares during the period. Interactive Brokers Group accounts for approximately 9.2% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 3rd biggest holding. Bronte Capital Management Pty Ltd.’s holdings in Interactive Brokers Group were worth $85,966,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Interactive Brokers Group during the fourth quarter worth $453,146,000. Orbis Allan Gray Ltd boosted its holdings in shares of Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after buying an additional 6,246,715 shares during the period. Bank of America Corp DE grew its position in shares of Interactive Brokers Group by 225.4% during the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after buying an additional 5,260,923 shares during the last quarter. State Street Corp grew its position in shares of Interactive Brokers Group by 23.2% during the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock valued at $1,283,221,000 after buying an additional 3,517,729 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Interactive Brokers Group by 44.1% during the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock worth $533,026,000 after acquiring an additional 2,534,772 shares during the period. Institutional investors own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IBKR. Piper Sandler raised their target price 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. Jefferies Financial Group lowered their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a report on Monday, April 6th. Weiss Ratings cut Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a research report on Friday, May 1st. One 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.22.

Interactive Brokers Group Trading Down 2.1%

Shares of NASDAQ:IBKR opened at $91.33 on Friday. The firm’s 50 day moving average is $86.38 and its two-hundred day moving average is $76.29. Interactive Brokers Group, Inc. has a 52 week low of $56.33 and a 52 week high of $97.84. The firm has a market capitalization of $154.93 billion, a P/E ratio of 39.37, a PEG ratio of 2.58 and a beta of 1.33.

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

Interactive Brokers Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were given a $0.0875 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is 15.09%.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction 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 owned 173,482 shares of the company’s stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by insiders.

Interactive Brokers Group Company Profile

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.