Retirement Systems of Alabama Raises Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Retirement Systems of Alabama increased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 301.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,057,199 shares of the financial services provider’s stock after purchasing an additional 793,553 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of Interactive Brokers Group worth $58,579,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBKR. GAMMA Investing LLC raised its stake in Interactive Brokers Group by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 2,560 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 660 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Interactive Brokers Group in the first quarter valued at approximately $78,000. New York State Teachers Retirement System lifted its holdings in Interactive Brokers Group by 10.5% in the first quarter. New York State Teachers Retirement System now owns 77,387 shares of the financial services provider’s stock valued at $12,815,000 after acquiring an additional 7,360 shares during the last quarter. Vontobel Holding Ltd. raised its position in Interactive Brokers Group by 94.5% in the first quarter. Vontobel Holding Ltd. now owns 9,990 shares of the financial services provider’s stock valued at $1,654,000 after purchasing an additional 4,853 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Interactive Brokers Group by 30.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,397 shares of the financial services provider’s stock worth $9,339,000 after acquiring an additional 13,260 shares during the period. Institutional investors and hedge funds own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

IBKR has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Piper Sandler set a $80.00 target price on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. CICC Research initiated coverage on Interactive Brokers Group in a report on Monday. They issued an “outperform” rating and a $78.00 target price on the stock. Zacks Research lowered shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $91.00 price objective on shares of Interactive Brokers Group in a report on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Interactive Brokers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

Insider Buying and Selling

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. The trade was a 29.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the transaction, the chief financial officer owned 158,954 shares in the company, valued at $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,210,152 shares of company stock valued at $77,603,239. Corporate insiders own 2.97% of the company’s stock.

Interactive Brokers Group Trading Up 0.8%

IBKR stock opened at $69.19 on Thursday. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35. The company has a fifty day simple moving average of $65.87 and a 200 day simple moving average of $58.17. The firm has a market cap of $117.36 billion, a PE ratio of 33.22, a PEG ratio of 2.14 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. Interactive Brokers Group’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. As a group, analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

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

About Interactive Brokers Group

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.