Alliancebernstein L.P. Has $23.14 Million Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Alliancebernstein L.P. reduced its stake in Interactive Brokers Group, Inc. by 7.6% in the 1st quarter, holding 139,765 shares valued at $23.14 million after selling 11,552 shares.
• Insider selling activity included Vice Chairman Earl H. Nemser disposing of 194,086 shares for over $13 million, resulting in a 29.6% decrease in his ownership.
• Brokerages have raised their price objectives for Interactive Brokers, with Barclays setting a target of $73 and multiple firms giving it a "buy" rating, indicating strong investor optimism.

Alliancebernstein L.P. reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,765 shares of the financial services provider's stock after selling 11,552 shares during the quarter. Alliancebernstein L.P.'s holdings in Interactive Brokers Group were worth $23,144,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IBKR. N.E.W. Advisory Services LLC acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $26,000. City Holding Co. acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $33,000. Nvwm LLC acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $33,000. ASR Vermogensbeheer N.V. acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $33,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 23.80% of the company's stock.

Insider Activity

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 shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 233,972 shares of company stock worth $15,746,449 in the last quarter. 2.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IBKR. 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 note on Friday, July 18th. 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 note on Monday, July 7th. 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 note on Thursday, May 15th. 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 report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. 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, Interactive Brokers Group has an average rating of "Moderate Buy" and an average target price of $59.38.

Interactive Brokers Group Stock Up 0.5%

Shares of Interactive Brokers Group stock opened at $62.51 on Thursday. Interactive Brokers Group, Inc. has a 12-month low of $30.01 and a 12-month high of $68.07. The company has a 50-day simple moving average of $62.51 and a 200 day simple moving average of $52.36. The stock has a market capitalization of $106.03 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 2.53 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share 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 analysts' expectations of $1.37 billion. During the same quarter last year, the company posted $1.76 EPS. The company's quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

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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