Assenagon Asset Management S.A. Acquires 1,150,271 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Assenagon Asset Management dramatically increased its stake in Interactive Brokers Group, buying 1,150,271 additional shares in Q1 and lifting its total holdings to 1,192,749 shares worth about $80 million.
• Insider selling and institutional interest were both notable: Director Lawrence E. Harris sold 26,000 shares, while institutional investors and hedge funds now hold about 23.8% of the company’s stock.
• Analysts remain broadly positive on IBKR, with a consensus rating of “Moderate Buy” and an average price target of $85.22, even as the stock recently traded near $92.79 after strong quarterly results and a dividend increase.

Assenagon Asset Management S.A. increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 2,707.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,192,749 shares of the financial services provider's stock after acquiring an additional 1,150,271 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Interactive Brokers Group worth $79,998,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IBKR. HM Payson & Co. raised its position in shares of Interactive Brokers Group by 5.8% in the fourth quarter. HM Payson & Co. now owns 2,411 shares of the financial services provider's stock valued at $155,000 after purchasing an additional 133 shares during the period. Ashton Thomas Private Wealth LLC grew its stake in Interactive Brokers Group by 1.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 11,483 shares of the financial services provider's stock valued at $738,000 after buying an additional 143 shares during the last quarter. Caitlin John LLC raised its holdings in Interactive Brokers Group by 0.6% in the 3rd quarter. Caitlin John LLC now owns 25,195 shares of the financial services provider's stock valued at $1,734,000 after acquiring an additional 153 shares during the period. S&CO Inc. lifted its position in Interactive Brokers Group by 0.3% during the fourth quarter. S&CO Inc. now owns 63,080 shares of the financial services provider's stock worth $4,056,000 after acquiring an additional 160 shares during the last quarter. Finally, Thrive Wealth Management LLC lifted its position in Interactive Brokers Group by 1.8% during the fourth quarter. Thrive Wealth Management LLC now owns 9,112 shares of the financial services provider's stock worth $586,000 after acquiring an additional 162 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Insider Transactions at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were 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 approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BMO Capital Markets upped their target price on Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Jefferies Financial Group decreased their price objective on Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Barclays lifted their target price on Interactive Brokers Group from $85.00 to $93.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Finally, Wolfe Research began coverage on shares of Interactive Brokers Group in a research note on Monday, June 8th. They issued an "outperform" rating and a $101.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $85.22.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $92.79 on Thursday. The business's 50 day simple moving average is $85.12 and its 200 day simple moving average is $75.24. Interactive Brokers Group, Inc. has a 1 year low of $51.83 and a 1 year high of $97.84. The company has a market capitalization of $157.40 billion, a P/E ratio of 40.00, a P/E/G ratio of 2.62 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 EPS. On average, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were paid a dividend of $0.0875 per share. The ex-dividend date was Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio is currently 15.09%.

Interactive Brokers Group 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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