Interactive Brokers Group, Inc. $IBKR Stake Increased by Westpac Banking Corp

Westpac Banking Corp boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 300.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,520 shares of the financial services provider’s stock after buying an additional 1,140 shares during the period. Westpac Banking Corp’s holdings in Interactive Brokers Group were worth $84,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Interactive Brokers Group in the 1st quarter valued at about $26,000. ORG Partners LLC grew its stake in Interactive Brokers Group by 312.9% in the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 363 shares in the last quarter. Huntington National Bank increased its holdings in Interactive Brokers Group by 51.8% in the second quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after buying an additional 176 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Interactive Brokers Group by 300.0% during the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after buying an additional 423 shares in the last quarter. Finally, Private Wealth Asset Management LLC raised its stake in Interactive Brokers Group by 300.0% during the second quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after buying an additional 435 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Performance

IBKR stock opened at $63.41 on Tuesday. The stock has a market capitalization of $107.55 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35. The stock’s fifty day moving average is $67.72 and its two-hundred day moving average is $60.87.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company earned $1.61 EPS. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group’s dividend payout ratio is currently 15.38%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays set a $80.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Interactive Brokers Group in a report on Friday, October 17th. BMO Capital Markets increased their target price on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Piper Sandler set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Interactive Brokers Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.08.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 22,000 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the completion of the transaction, the director directly owned 231,704 shares of the company’s stock, valued at approximately $15,670,141.52. This trade represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the completion of the sale, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,026,711 shares of company stock valued at $65,238,880 over the last quarter. 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.