Sowell Financial Services LLC Sells 17,716 Shares of Interactive Brokers Group, Inc. $IBKR

Sowell Financial Services LLC decreased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 43.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,775 shares of the financial services provider’s stock after selling 17,716 shares during the period. Sowell Financial Services LLC’s holdings in Interactive Brokers Group were worth $1,567,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its position in shares of Interactive Brokers Group by 50.2% during the first quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider’s stock worth $98,886,000 after acquiring an additional 199,467 shares during the period. Thrive Wealth Management LLC increased its holdings in Interactive Brokers Group by 243.8% during the 2nd 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 period. Quinn Opportunity Partners LLC raised its position in Interactive Brokers Group by 158.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 311,000 shares of the financial services provider’s stock valued at $17,233,000 after purchasing an additional 190,452 shares in the last quarter. American Century Companies Inc. raised its position in Interactive Brokers Group by 290.7% during the 2nd quarter. American Century Companies Inc. now owns 5,602,511 shares of the financial services provider’s stock valued at $310,435,000 after purchasing an additional 4,168,530 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Interactive Brokers Group by 335.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 374,008 shares of the financial services provider’s stock worth $20,724,000 after buying an additional 288,055 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $65.35 on Tuesday. The stock has a market capitalization of $110.84 billion, a P/E ratio of 31.38, a P/E/G ratio of 2.02 and a beta of 1.26. The company’s 50-day simple moving average is $66.22 and its 200-day simple moving average is $63.81. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. Interactive Brokers Group’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, December 1st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, December 1st. Interactive Brokers Group’s payout ratio is 15.38%.

Insider Activity

In related news, Director Jill Bright bought 400 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was bought at an average cost of $65.95 per share, for a total transaction of $26,380.00. Following the purchase, the director directly owned 10,304 shares of the company’s stock, valued at approximately $679,548.80. This trade represents a 4.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence E. Harris sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the sale, the director directly owned 231,704 shares in the company, valued at approximately $15,670,141.52. This represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,000 shares of company stock worth $3,767,363 over the last ninety days. 2.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research upgraded Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. The Goldman Sachs Group reissued a “buy” rating and set a $91.00 target price on shares of Interactive Brokers Group in a research report on Friday, October 17th. BMO Capital Markets upped their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Monday, December 22nd. Finally, Piper Sandler set a $80.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.19.

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.