Marks Group Wealth Management Inc Invests $3.05 Million in Interactive Brokers Group, Inc. $IBKR

Marks Group Wealth Management Inc bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the third quarter, Holdings Channel.com reports. The fund bought 44,323 shares of the financial services provider’s stock, valued at approximately $3,050,000.

A number of other institutional investors also recently added to or reduced their stakes in IBKR. Vanguard Group Inc. grew its holdings in Interactive Brokers Group by 26.4% during the 3rd quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider’s stock worth $3,637,234,000 after acquiring an additional 11,048,679 shares in the last quarter. State Street Corp lifted its position in shares of Interactive Brokers Group by 301.3% during the 2nd quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock worth $838,410,000 after purchasing an additional 11,360,260 shares during the last quarter. Greenwich Wealth Management LLC grew its stake in shares of Interactive Brokers Group by 301.6% during the second quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider’s stock worth $602,004,000 after purchasing an additional 8,159,175 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Interactive Brokers Group by 227.7% in the second quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock valued at $562,328,000 after buying an additional 7,051,682 shares during the last quarter. Finally, Orbis Allan Gray Ltd increased its holdings in Interactive Brokers Group by 178.8% in the second 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 last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Up 0.5%

NASDAQ:IBKR opened at $74.39 on Monday. Interactive Brokers Group, Inc. has a 12-month low of $32.82 and a 12-month high of $79.18. The stock’s 50 day simple moving average is $71.17 and its 200-day simple moving average is $67.75. The firm has a market cap of $126.18 billion, a P/E ratio of 33.58, a PEG ratio of 2.08 and a beta of 1.24.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $0.51 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year. Research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 14.48%.

Insiders Place Their Bets

In other news, Vice Chairman Earl H. Nemser sold 145,000 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $77.85, for a total transaction of $11,288,250.00. Following the sale, the insider owned 155,000 shares of the company’s stock, valued at $12,066,750. The trade was a 48.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 400,000 shares of company stock worth $30,725,122 in the last quarter. Corporate insiders own 2.97% of the company’s stock.

Analyst Ratings Changes

IBKR has been the subject of a number of recent analyst reports. CICC Research initiated coverage on Interactive Brokers Group in a report on Monday, October 27th. They set an “outperform” rating and a $78.00 price target for the company. BMO Capital Markets raised their target price on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interactive Brokers Group in a report on Monday, December 29th. Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Finally, Barclays set a $83.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $76.39.

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.