Apollon Wealth Management LLC Takes Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Apollon Wealth Management LLC acquired 4,828 shares of Interactive Brokers Group, Inc. for approximately $268,000 in the second quarter, according to a recent SEC filing.
• Interactive Brokers reported a 21.2% increase in quarterly revenue, totaling $1.66 billion, and an EPS of $0.57 which exceeded expectations.
• The company has announced a quarterly dividend of $0.08 per share, to be paid on December 12th, representing a 0.5% yield annually.

Apollon Wealth Management LLC purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,828 shares of the financial services provider's stock, valued at approximately $268,000.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Interactive Brokers Group by 2.8% in the first quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider's stock valued at $1,714,108,000 after acquiring an additional 280,004 shares during the period. American Century Companies Inc. increased its position in shares of Interactive Brokers Group by 1,476.3% during 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. Jacobs Levy Equity Management Inc. lifted its stake in shares of Interactive Brokers Group by 13.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider's stock worth $203,710,000 after purchasing an additional 145,870 shares during the period. Invesco Ltd. boosted its holdings in shares of Interactive Brokers Group by 45.6% in the first quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider's stock worth $184,668,000 after buying an additional 349,255 shares during the last quarter. Finally, Northern Trust Corp grew its position in Interactive Brokers Group by 8.7% during the first quarter. Northern Trust Corp now owns 952,772 shares of the financial services provider's stock valued at $157,770,000 after buying an additional 76,283 shares during the period. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

IBKR stock opened at $66.23 on Friday. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $73.35. The business has a 50 day simple moving average of $65.30 and a two-hundred day simple moving average of $56.47. The company has a market capitalization of $112.34 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.71 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.17%. The company's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is presently 15.38%.

Insider Activity

In related news, CFO Paul Jonathan Brody sold 17,058 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $65.78, for a total value of $1,122,075.24. Following the sale, the chief financial officer directly owned 28,289 shares in the company, valued at approximately $1,860,850.42. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,205,683 shares of company stock valued at $77,217,965 over the last quarter. Insiders own 2.97% of the company's stock.

Analyst Ratings Changes

IBKR has been the topic of several recent research reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $91.00 price target on shares of Interactive Brokers Group in a research report on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. Barclays set a $80.00 price target on Interactive Brokers Group and gave the company an "overweight" rating in a report on Friday. Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 2nd. Finally, Wall Street Zen raised 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 three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.34.

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.

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