Boyar Asset Management Inc. Takes Position in Interactive Brokers Group, Inc. $IBKR

Boyar Asset Management Inc. purchased a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,884 shares of the financial services provider’s stock, valued at approximately $271,000.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of Interactive Brokers Group by 50.2% during the first quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider’s stock valued at $98,886,000 after buying an additional 199,467 shares during the last quarter. Thrive Wealth Management LLC lifted its position in Interactive Brokers Group by 243.8% during the second quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 6,163 shares during the period. Farther Finance Advisors LLC lifted its position in Interactive Brokers Group by 1,093.9% during the second quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 6,760 shares during the period. Inspire Investing LLC lifted its position in Interactive Brokers Group by 19.5% during the first quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider’s stock valued at $7,839,000 after purchasing an additional 7,734 shares during the period. Finally, Swedbank AB lifted its position in Interactive Brokers Group by 300.0% during the second quarter. Swedbank AB now owns 34,080 shares of the financial services provider’s stock valued at $1,888,000 after purchasing an additional 25,560 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Down 0.8%

IBKR opened at $70.36 on Friday. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $71.78. The company has a market capitalization of $119.34 billion, a PE ratio of 36.17, a PEG ratio of 2.91 and a beta of 1.22. The firm’s 50 day simple moving average is $64.33 and its two-hundred day simple moving average is $54.56.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm earned $1.76 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is 16.49%.

Wall Street Analyst Weigh In

IBKR has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays increased their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. BMO Capital Markets initiated coverage on shares of Interactive Brokers Group in a research report on Friday. They set an “outperform” rating and a $82.00 price objective on the stock. Wall Street Zen upgraded shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Interactive Brokers Group in a research report on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.47.

Insider Activity

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $65.78, for a total value of $1,122,075.24. Following the completion of the sale, the chief financial officer directly owned 28,289 shares of the company’s stock, valued at $1,860,850.42. This represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 1,205,683 shares of company stock valued at $77,217,965 over the last three months. Corporate insiders own 2.97% of the company’s stock.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.