Allstate Corp Takes Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Allstate Corp has acquired a new position in Interactive Brokers Group, purchasing 5,676 shares valued at approximately $940,000.
• Insiders have sold a total of 233,972 shares in the last three months, with Vice Chairman Earl H. Nemser selling 194,086 shares worth over $13 million, representing a significant reduction in their ownership.
• Interactive Brokers Group's stock has recently received several upgrades from analysts, with a consensus rating of "Moderate Buy" and an average target price of $59.38.

Allstate Corp purchased a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,676 shares of the financial services provider's stock, valued at approximately $940,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its position in Interactive Brokers Group by 1,476.3% in the first quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after acquiring an additional 1,343,007 shares during the last quarter. Bank of America Corp DE boosted its holdings in Interactive Brokers Group by 91.4% in the fourth quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock worth $413,226,000 after acquiring an additional 1,117,186 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Interactive Brokers Group by 22,211.1% during the first quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock worth $701,950,000 after acquiring an additional 422,010 shares in the last quarter. Fullerton Fund Management Co Ltd. bought a new stake in Interactive Brokers Group during the fourth quarter worth $69,057,000. Finally, Two Sigma Advisers LP grew its holdings in Interactive Brokers Group by 456.0% during the fourth quarter. Two Sigma Advisers LP now owns 465,900 shares of the financial services provider's stock worth $82,311,000 after buying an additional 382,100 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Analyst Ratings Changes

IBKR has been the topic of a number of recent research reports. Piper Sandler upped their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Citigroup raised their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. The Goldman Sachs Group raised their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Barclays boosted their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.38.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR traded up $0.99 during trading hours on Thursday, hitting $62.78. The company's stock had a trading volume of 8,194,671 shares, compared to its average volume of 7,636,069. Interactive Brokers Group, Inc. has a 52 week low of $30.01 and a 52 week high of $68.07. The firm's fifty day moving average price is $60.71 and its 200 day moving average price is $52.00. The company has a market capitalization of $106.48 billion, a price-to-earnings ratio of 32.28, a P/E/G ratio of 2.58 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company's quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be 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 is Friday, August 29th. Interactive Brokers Group's payout ratio is 16.49%.

Insider Buying and Selling

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the sale, the insider directly owned 461,500 shares in the company, valued at $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 233,972 shares of company stock worth $15,746,449. 2.97% of the stock is currently owned by insiders.

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.