Wealth Enhancement Advisory Services LLC Purchases 518,707 Shares of Interactive Brokers Group, Inc. $IBKR

Wealth Enhancement Advisory Services LLC grew its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1,013.6% in the fourth quarter, HoldingsChannel reports. The fund owned 569,884 shares of the financial services provider’s stock after acquiring an additional 518,707 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Interactive Brokers Group were worth $36,649,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. National Pension Service boosted its holdings in Interactive Brokers Group by 2.2% during the third quarter. National Pension Service now owns 707,634 shares of the financial services provider’s stock worth $48,692,000 after purchasing an additional 15,339 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Interactive Brokers Group by 36.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 26,875 shares of the financial services provider’s stock valued at $1,777,000 after buying an additional 7,234 shares during the last quarter. State of Michigan Retirement System increased its stake in Interactive Brokers Group by 15.0% in the 3rd quarter. State of Michigan Retirement System now owns 120,400 shares of the financial services provider’s stock valued at $8,285,000 after buying an additional 15,684 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Interactive Brokers Group by 1,221.3% during the 3rd 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 in the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in Interactive Brokers Group during the 3rd quarter worth about $2,468,000. 23.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 145,000 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $77.85, for a total value of $11,288,250.00. Following the transaction, the insider directly owned 155,000 shares of the company’s stock, valued at $12,066,750. This represents a 48.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 400,000 shares of company stock valued at $30,725,122. 2.80% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Trading Up 3.6%

IBKR opened at $67.84 on Tuesday. The stock’s fifty day simple moving average is $72.23 and its 200 day simple moving average is $68.57. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $79.18. The stock has a market cap of $115.08 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.83 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.65 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 firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. Equities analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s payout ratio is presently 14.48%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IBKR. BMO Capital Markets raised their price objective on Interactive Brokers Group from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Zacks Research lowered Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Monday, December 29th. Finally, Barclays set a $83.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.