Allstate Corp Increases Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• Allstate Corp increased its stake in Interactive Brokers Group by 105% in the fourth quarter, ending with 33,535 shares valued at about $2.16 million.
• Several other institutional investors also boosted their positions, with Vanguard, State Street, and Wellington among the largest holders. Hedge funds and other institutions now own 23.8% of the company.
• Interactive Brokers reported quarterly EPS of $0.60, beating estimates, and raised its quarterly dividend to $0.0875 per share. Analysts currently rate the stock a Moderate Buy with an average price target of $83.25.

Allstate Corp increased its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 105.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,535 shares of the financial services provider's stock after buying an additional 17,178 shares during the period. Allstate Corp's holdings in Interactive Brokers Group were worth $2,157,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Interactive Brokers Group by 26.4% during the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock valued at $3,637,234,000 after purchasing an additional 11,048,679 shares in the last quarter. State Street Corp boosted its position in Interactive Brokers Group by 23.2% during the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider's stock valued at $1,283,221,000 after purchasing an additional 3,517,729 shares in the last quarter. Wellington Management Group LLP boosted its position in Interactive Brokers Group by 17.6% during the third quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider's stock valued at $750,110,000 after purchasing an additional 1,630,620 shares in the last quarter. Orbis Allan Gray Ltd boosted its position in Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock valued at $539,697,000 after purchasing an additional 6,246,715 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Interactive Brokers Group by 225.4% during the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock valued at $420,834,000 after purchasing an additional 5,260,923 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Insider Activity

In other news, Director Lawrence E. Harris sold 26,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the transaction, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

IBKR has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a research report on Friday, May 1st. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a research report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price objective on the stock. Piper Sandler raised their price objective on Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.25.

Interactive Brokers Group Stock Performance

Shares of NASDAQ IBKR opened at $83.11 on Friday. The company has a market cap of $140.98 billion, a PE ratio of 35.82, a P/E/G ratio of 2.24 and a beta of 1.32. The business has a 50-day simple moving average of $76.65 and a two-hundred day simple moving average of $71.86. Interactive Brokers Group, Inc. has a fifty-two week low of $49.15 and a fifty-two week high of $88.44.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $1.94 earnings per share. On average, sell-side analysts predict that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, June 1st will be paid a $0.0875 dividend. The ex-dividend date is Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group's dividend payout ratio (DPR) is 13.79%.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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