Passumpsic Savings Bank Buys New Holdings in Interactive Brokers Group, Inc. $IBKR

Passumpsic Savings Bank acquired a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,269 shares of the financial services provider’s stock, valued at approximately $2,011,000.

A number of other large investors have also added to or reduced their stakes in the company. National Pension Service increased its holdings in shares of Interactive Brokers Group by 2.2% in the third quarter. National Pension Service now owns 707,634 shares of the financial services provider’s stock worth $48,692,000 after buying an additional 15,339 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Interactive Brokers Group by 36.8% in the third quarter. Jones Financial Companies Lllp now owns 26,875 shares of the financial services provider’s stock worth $1,777,000 after buying an additional 7,234 shares during the period. State of Michigan Retirement System increased its holdings in shares of Interactive Brokers Group by 15.0% in the third quarter. State of Michigan Retirement System now owns 120,400 shares of the financial services provider’s stock worth $8,285,000 after buying an additional 15,684 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Interactive Brokers Group by 1,221.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,728 shares of the financial services provider’s stock worth $5,073,000 after buying an additional 68,148 shares during the period. Finally, Hartford Investment Management Co. purchased a new position in shares of Interactive Brokers Group in the third quarter worth about $1,798,000. Institutional investors own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IBKR. Keefe, Bruyette & Woods began coverage on Interactive Brokers Group in a research note on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price on the stock. Jefferies Financial Group cut their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. BMO Capital Markets raised their target price on Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Zacks Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Piper Sandler raised their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Interactive Brokers Group has an average rating of “Moderate Buy” and a consensus price target of $83.25.

Insiders Place Their Bets

In related news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. This trade represents a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Interactive Brokers Group Stock Performance

Shares of NASDAQ:IBKR opened at $87.00 on Monday. The stock’s 50-day moving average price is $73.89 and its two-hundred day moving average price is $71.06. Interactive Brokers Group, Inc. has a 12-month low of $49.15 and a 12-month high of $88.44. The firm has a market cap of $147.58 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 2.40 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the company posted $1.94 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be issued a dividend of $0.0875 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is 13.79%.

About Interactive Brokers Group

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.