JPMorgan Chase & Co. Buys 7,051,682 Shares of Interactive Brokers Group, Inc. $IBKR

JPMorgan Chase & Co. lifted its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 227.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,148,398 shares of the financial services provider’s stock after purchasing an additional 7,051,682 shares during the quarter. JPMorgan Chase & Co.’s holdings in Interactive Brokers Group were worth $562,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in Interactive Brokers Group by 50.2% in 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 acquiring an additional 199,467 shares during the last quarter. Thrive Wealth Management LLC lifted its stake 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 worth $482,000 after purchasing an additional 6,163 shares during the last quarter. Quinn Opportunity Partners LLC lifted its stake in Interactive Brokers Group by 158.0% during the second quarter. Quinn Opportunity Partners LLC now owns 311,000 shares of the financial services provider’s stock worth $17,233,000 after purchasing an additional 190,452 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Interactive Brokers Group by 335.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 374,008 shares of the financial services provider’s stock worth $20,724,000 after purchasing an additional 288,055 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Interactive Brokers Group by 312.8% in the 2nd quarter. TD Asset Management Inc now owns 104,644 shares of the financial services provider’s stock valued at $5,798,000 after purchasing an additional 79,294 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Trading Down 0.8%

Interactive Brokers Group stock opened at $61.05 on Monday. The company has a market capitalization of $103.55 billion, a PE ratio of 29.32, a P/E/G ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $73.35. The stock has a 50-day moving average price of $67.69 and a two-hundred day moving average price of $61.36.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the business posted $1.61 earnings per share. The business’s quarterly revenue 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 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 15.38%.

Insiders Place Their Bets

In related news, Director Lawrence E. Harris sold 22,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total value of $1,487,860.00. Following the sale, the director owned 231,704 shares of the company’s stock, valued at $15,670,141.52. The trade was a 8.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction dated Thursday, September 18th. The shares were 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 of the company’s stock, valued at approximately $10,289,092.42. The trade was a 42.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,026,711 shares of company stock worth $65,238,880. 2.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IBKR. Zacks Research raised Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Barclays set a $80.00 target price on Interactive Brokers Group and gave the company an “overweight” rating in a research 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. CICC Research assumed coverage on shares of Interactive Brokers Group in a research note on Monday, October 27th. They issued an “outperform” rating and a $78.00 price target on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $91.00 price objective on shares of Interactive Brokers Group in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and an average target price of $72.08.

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.