DAVENPORT & Co LLC boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 316.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,410 shares of the financial services provider’s stock after acquiring an additional 23,873 shares during the period. DAVENPORT & Co LLC’s holdings in Interactive Brokers Group were worth $1,740,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of IBKR. N.E.W. Advisory Services LLC bought a new position in Interactive Brokers Group during the 1st quarter valued at $26,000. ORG Partners LLC grew its stake in shares of Interactive Brokers Group by 312.9% in the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 363 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Interactive Brokers Group by 300.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 423 shares in the last quarter. Nvwm LLC bought a new stake in shares of Interactive Brokers Group in the 1st quarter worth $33,000. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Interactive Brokers Group in the 1st quarter worth $33,000. Institutional investors and hedge funds own 23.80% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on IBKR shares. Wall Street Zen upgraded shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Zacks Research lowered shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 2nd. BMO Capital Markets started coverage on shares of Interactive Brokers Group in a research note on Friday, October 3rd. They issued an “outperform” rating and a $82.00 target price for the company. Citigroup upped their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Barclays reiterated an “overweight” rating and issued a $81.00 target price (up previously from $73.00) on shares of Interactive Brokers Group in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.47.
Insider Buying and Selling
In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 1,205,683 shares of company stock worth $77,217,965 over the last quarter. 2.97% of the stock is owned by corporate insiders.
Interactive Brokers Group Stock Performance
Shares of NASDAQ:IBKR opened at $72.62 on Friday. The company’s 50-day moving average is $64.76 and its 200 day moving average is $55.30. The company has a market capitalization of $123.17 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 2.96 and a beta of 1.22. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $72.71.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 EPS. As a group, research analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.
Interactive Brokers Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.4%. Interactive Brokers Group’s dividend payout ratio is 16.49%.
About Interactive Brokers Group
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.
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