264,780 Interactive Brokers Group, Inc. $IBKR Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring increased its Interactive Brokers stake by 21.8% in the third quarter, adding 264,780 shares to hold 1.48 million shares valued at about $126.9 million.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $102.87. The company’s latest quarterly results matched EPS estimates at $0.67 and revenue exceeded expectations at $1.87 billion.
• Interactive Brokers raised its quarterly dividend from $0.0875 to $0.15 per share; separately, director Lawrence Harris sold 25,000 shares for about $2.1 million.

Allspring Global Investments Holdings LLC increased its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 21.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,479,094 shares of the financial services provider's stock after buying an additional 264,780 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Interactive Brokers Group worth $126,921,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IBKR. Nykredit A S bought a new position in Interactive Brokers Group during the 2nd quarter worth approximately $15,348,000. Engineers Gate Manager LP increased its holdings in shares of Interactive Brokers Group by 831.3% in the 2nd quarter. Engineers Gate Manager LP now owns 108,359 shares of the financial services provider's stock valued at $9,432,000 after acquiring an additional 96,724 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Interactive Brokers Group by 79.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 516,646 shares of the financial services provider's stock valued at $48,185,000 after acquiring an additional 228,716 shares during the last quarter. AXQ Capital LP increased its holdings in shares of Interactive Brokers Group by 69.6% in the 2nd quarter. AXQ Capital LP now owns 45,065 shares of the financial services provider's stock valued at $3,922,000 after acquiring an additional 18,499 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Interactive Brokers Group by 30.1% during the 1st quarter. Cetera Investment Advisers now owns 209,311 shares of the financial services provider's stock valued at $14,038,000 after acquiring an additional 48,443 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence Harris sold 25,000 shares of Interactive Brokers Group stock in a transaction that occurred 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 sale, the director owned 148,482 shares of the company's stock, valued at approximately $12,266,098.02. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler set a $109.00 target price on shares of Interactive Brokers Group and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Raymond James Financial started coverage on shares of Interactive Brokers Group in a research report on Wednesday, August 26th. They issued a "market perform" rating on the stock. Capital One Financial set a $105.00 price target on shares of Interactive Brokers Group in a report on Tuesday, October 6th. BMO Capital Markets reaffirmed an "outperform" rating and set a $100.00 price objective (down from $105.00) on shares of Interactive Brokers Group in a research report on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft set a $104.00 price objective on shares of Interactive Brokers Group and gave the company a "buy" rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group presently has an average rating of "Moderate Buy" and an average target price of $102.87.

Interactive Brokers Group Stock Performance

Interactive Brokers Group stock opened at $75.82 on Monday. The company has a 50-day simple moving average of $86.40 and a 200-day simple moving average of $82.97. The firm has a market capitalization of $129.00 billion, a P/E ratio of 29.16, a P/E/G ratio of 1.24 and a beta of 1.37. Interactive Brokers Group, Inc. has a one year low of $58.95 and a one year high of $98.75.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.86 billion. Interactive Brokers Group had a net margin of 10.03% and a return on equity of 5.38%. The company's revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. As a group, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Tuesday, December 1st will be paid a $0.15 dividend. The ex-dividend date is Tuesday, December 1st. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.0875. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. Interactive Brokers Group's dividend payout ratio (DPR) is 13.46%.

Interactive Brokers Group Company 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.

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