Migdal Insurance & Financial Holdings Ltd. Acquires New Holdings in Interactive Brokers Group, Inc. $IBKR

Migdal Insurance & Financial Holdings Ltd. bought a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 735,000 shares of the financial services provider’s stock, valued at approximately $62,784,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBKR. Danske Bank A S lifted its holdings in Interactive Brokers Group by 5.8% in the 3rd quarter. Danske Bank A S now owns 172,208 shares of the financial services provider’s stock valued at $14,710,000 after purchasing an additional 9,500 shares in the last quarter. Ibex Wealth Advisors boosted its stake in shares of Interactive Brokers Group by 2.0% during the 3rd quarter. Ibex Wealth Advisors now owns 166,783 shares of the financial services provider’s stock worth $14,247,000 after purchasing an additional 3,208 shares during the last quarter. Shah Wealth Advisors LLC acquired a new stake in shares of Interactive Brokers Group during the 3rd quarter worth about $384,000. Aberdeen Group plc boosted its stake in shares of Interactive Brokers Group by 725.7% during the 3rd quarter. Aberdeen Group plc now owns 255,521 shares of the financial services provider’s stock worth $21,827,000 after purchasing an additional 224,575 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Interactive Brokers Group by 2.1% during the third quarter. Allworth Financial LP now owns 7,113 shares of the financial services provider’s stock worth $619,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence Harris sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $82.61, for a total transaction of $2,065,250.00. Following the completion of the sale, the director directly owned 148,482 shares in the company, valued at $12,266,098.02. This represents a 14.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by insiders.

Interactive Brokers Group Stock Performance

Interactive Brokers Group stock traded up $0.46 during trading on Friday, reaching $81.79. The company had a trading volume of 3,427,939 shares, compared to its average volume of 5,461,367. Interactive Brokers Group, Inc. has a 12-month low of $58.95 and a 12-month high of $98.75. The stock’s 50 day moving average price is $85.10 and its two-hundred day moving average price is $83.07. The firm has a market capitalization of $139.16 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 1.33 and a beta of 1.37.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. Interactive Brokers Group had a net margin of 10.03% and a return on equity of 5.38%. Interactive Brokers Group’s revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. As a group, research analysts expect that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.0875. Interactive Brokers Group’s dividend payout ratio is presently 13.46%.

Wall Street Analysts Forecast Growth

IBKR has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $100.00 price objective (down from $105.00) on shares of Interactive Brokers Group in a research report on Friday, October 16th. Zacks Research downgraded shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 24th. Weiss Ratings lowered shares of Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 30th. Deutsche Bank set a $104.00 target price on shares of Interactive Brokers Group and gave the stock a “buy” rating in a research note on Friday, October 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $111.00 price target on shares of Interactive Brokers Group in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.87.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc. is an electronic brokerage firm that provides trade execution, clearing and custody services to individual investors and institutional clients, including financial advisers, hedge funds and proprietary trading groups. Its platforms give clients access to a range of investments, including stocks, options, futures, currencies, bonds and funds, with product availability varying by location. The company serves clients in many countries and provides access to markets around the world.