ABLE Financial Group LLC Purchases 4,408 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• ABLE Financial Group LLC increased its holdings in Interactive Brokers Group by 212.7%, owning 6,480 shares worth approximately $359,000 as of the end of the second quarter.
• Various analysts have upgraded their ratings and price targets for IBKR, with Barclays raising the target from $65.00 to $73.00 and giving it an "overweight" rating.
• Insider trading activity included Vice Chairman Earl H. Nemser selling over 194,000 shares valued at approximately $13 million, representing a 29.60% decrease in his ownership position.

ABLE Financial Group LLC grew its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 212.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,480 shares of the financial services provider's stock after purchasing an additional 4,408 shares during the period. ABLE Financial Group LLC's holdings in Interactive Brokers Group were worth $359,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in Interactive Brokers Group by 50.2% in the first quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider's stock worth $98,886,000 after purchasing an additional 199,467 shares during the period. Thrive Wealth Management LLC boosted its stake in shares of 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. Inspire Investing LLC lifted its holdings in Interactive Brokers Group by 19.5% during the 1st quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider's stock valued at $7,839,000 after buying an additional 7,734 shares in the last quarter. First Hawaiian Bank grew its position in shares of Interactive Brokers Group by 334.1% in the 1st quarter. First Hawaiian Bank now owns 7,557 shares of the financial services provider's stock worth $1,251,000 after buying an additional 5,816 shares during the last quarter. Finally, Fragasso Financial Advisors Inc boosted its holdings in shares of Interactive Brokers Group by 338.5% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 30,072 shares of the financial services provider's stock valued at $1,666,000 after acquiring an additional 23,214 shares during the last quarter. 23.80% of the stock is owned by institutional investors.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the sale, the insider directly owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total value of $7,564,412.53. Following the sale, the chief financial officer directly owned 158,954 shares of the company's stock, valued at $10,289,092.42. The trade was a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,075,018 shares of company stock worth $68,746,758. 2.97% of the stock is owned by corporate insiders.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR traded down $0.81 during mid-day trading on Monday, hitting $64.22. The company had a trading volume of 4,775,825 shares, compared to its average volume of 10,508,868. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $68.07. The business's fifty day moving average is $63.37 and its two-hundred day moving average is $53.14. The firm has a market cap of $108.93 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.65 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.76 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, September 1st were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IBKR shares. Piper Sandler increased their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Citigroup increased 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 report on Monday, July 7th. 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 lifted 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.38.

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.