Algert Global LLC Decreases Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Algert Global LLC significantly reduced its stake in Interactive Brokers by 93.7%, holding only 1,222 shares after selling 18,170 shares in the first quarter.
• Multiple hedge funds increased their positions in Interactive Brokers, with American Century Companies Inc. raising theirs by 1,476.3% in the same quarter.
• Interactive Brokers announced a quarterly dividend of $0.08 per share, with a total annualized dividend yield of 0.5%.

Algert Global LLC trimmed its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 93.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,222 shares of the financial services provider's stock after selling 18,170 shares during the quarter. Algert Global LLC's holdings in Interactive Brokers Group were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBKR. American Century Companies Inc. raised its position in shares of Interactive Brokers Group by 1,476.3% in the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after purchasing an additional 1,343,007 shares during the last quarter. Bank of America Corp DE raised its position in shares of Interactive Brokers Group by 91.4% in the 4th quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock valued at $413,226,000 after purchasing an additional 1,117,186 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Interactive Brokers Group by 22,211.1% in the 1st quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock valued at $701,950,000 after purchasing an additional 422,010 shares during the last quarter. Fullerton Fund Management Co Ltd. purchased a new position in shares of Interactive Brokers Group in the 4th quarter valued at approximately $69,057,000. Finally, Two Sigma Advisers LP raised its position in shares of Interactive Brokers Group by 456.0% in the 4th quarter. Two Sigma Advisers LP now owns 465,900 shares of the financial services provider's stock valued at $82,311,000 after purchasing an additional 382,100 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Trading Up 0.6%

IBKR opened at $62.76 on Tuesday. Interactive Brokers Group, Inc. has a 12-month low of $30.01 and a 12-month high of $68.07. The firm has a market capitalization of $106.45 billion, a PE ratio of 32.27, a P/E/G ratio of 2.54 and a beta of 1.22. The firm has a 50 day moving average of $60.30 and a two-hundred day moving average of $51.85.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm posted $1.76 EPS. Interactive Brokers Group's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Interactive Brokers Group's payout ratio is 16.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IBKR shares. The Goldman Sachs Group increased their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 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. Piper Sandler increased their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays increased their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.38.

Insider Buying and Selling at Interactive Brokers Group

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

Interactive Brokers Group Company Profile

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.

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