AGF Management Ltd. Buys 8,598 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• AGF Management Ltd. increased its position in Interactive Brokers Group, owning 558,377 shares valued at $92.46 million as of the latest SEC filing.
• Insider selling occurred recently, with Vice Chairman Earl H. Nemser selling 39,786 shares for approximately $2.64 million, reducing his position by nearly 10%.
• Interactive Brokers reported a quarterly earnings per share (EPS) of $0.51, surpassing analyst expectations, with revenue of $1.48 billion, a 14.7% year-over-year increase.

AGF Management Ltd. increased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 558,377 shares of the financial services provider's stock after acquiring an additional 8,598 shares during the quarter. AGF Management Ltd. owned about 0.13% of Interactive Brokers Group worth $92,462,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. CWM LLC lifted its position in Interactive Brokers Group by 6.6% during the first quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock valued at $176,000 after buying an additional 66 shares during the period. Crossmark Global Holdings Inc. lifted its position in Interactive Brokers Group by 0.8% during the first quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock valued at $1,410,000 after buying an additional 70 shares during the period. Ritholtz Wealth Management lifted its position in Interactive Brokers Group by 4.1% during the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock valued at $329,000 after buying an additional 79 shares during the period. Joel Isaacson & Co. LLC lifted its position in Interactive Brokers Group by 3.3% during the first quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider's stock valued at $411,000 after buying an additional 79 shares during the period. Finally, Securian Asset Management Inc. lifted its position in Interactive Brokers Group by 1.2% during the first quarter. Securian Asset Management Inc. now owns 8,331 shares of the financial services provider's stock valued at $1,380,000 after buying an additional 100 shares during the period. 23.80% of the stock is currently owned by institutional investors.

Insider Activity at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 39,786 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $66.38, for a total transaction of $2,640,994.68. Following the completion of the sale, the insider owned 360,114 shares of the company's stock, valued at $23,904,367.32. This represents a 9.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IBKR. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays boosted their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Piper Sandler boosted their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group boosted their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Bank of America decreased their price objective on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Interactive Brokers Group has an average rating of "Moderate Buy" and a consensus target price of $59.38.

Interactive Brokers Group Trading Down 6.1%

NASDAQ:IBKR traded down $4.14 during mid-day trading on Wednesday, reaching $63.49. The company's stock had a trading volume of 9,334,804 shares, compared to its average volume of 5,407,420. Interactive Brokers Group, Inc. has a 12-month low of $29.41 and a 12-month high of $68.07. The firm's fifty day moving average price is $58.49 and its two-hundred day moving average price is $51.46. The stock has a market cap of $107.33 billion, a P/E ratio of 32.64, a PEG ratio of 2.76 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is 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%.

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.