Assenagon Asset Management S.A. Sells 547,578 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Assenagon Asset Management reduced its Interactive Brokers stake by 45.9%, selling 547,578 shares in the second quarter and retaining 645,171 shares valued at approximately $56.2 million.
• Interactive Brokers reported strong quarterly results, with EPS of $0.69 beating estimates of $0.64 and revenue rising 28.1% year over year to $1.88 billion.
• The company declared a quarterly dividend of $0.0875, or $0.35 annualized, representing a 0.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $96.89.

Assenagon Asset Management S.A. lessened its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 45.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,171 shares of the financial services provider's stock after selling 547,578 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Interactive Brokers Group were worth $56,156,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IBKR. Reflection Asset Management bought a new stake in shares of Interactive Brokers Group in the 4th quarter worth approximately $26,000. IMA Advisory Services Inc. grew its stake in shares of Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock worth $29,000 after acquiring an additional 178 shares during the period. Tobam purchased a new stake in Interactive Brokers Group in the 4th quarter worth about $30,000. Entrust Financial LLC bought a new stake in Interactive Brokers Group in the 4th quarter valued at about $31,000. Finally, SHP Wealth Management bought a new stake in Interactive Brokers Group in the 4th quarter valued at about $31,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Trading Up 2.1%

IBKR opened at $87.83 on Friday. The company's 50 day moving average is $91.16 and its 200 day moving average is $80.63. The company has a market cap of $148.99 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 1.59 and a beta of 1.34. Interactive Brokers Group, Inc. has a 12-month low of $58.95 and a 12-month high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business posted $0.51 EPS. Interactive Brokers Group's revenue was up 28.1% on a year-over-year basis. As a group, analysts predict that Interactive Brokers Group, Inc. will post 2.69 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be given a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. Interactive Brokers Group's payout ratio is presently 14.00%.

Wall Street Analysts Forecast Growth

IBKR has been the topic of several recent research reports. Piper Sandler set a $109.00 target price on Interactive Brokers Group in a research report on Wednesday, July 22nd. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a research note on Friday, May 1st. Zacks Research raised shares of Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. Bank of America upped their target price on Interactive Brokers Group from $83.00 to $106.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded Interactive Brokers Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $96.89.

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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