Ballentine Partners LLC Invests $845,000 in Interactive Brokers Group, Inc. $IBKR

Key Points

• Ballentine Partners LLC has invested approximately $845,000 in Interactive Brokers Group, purchasing 15,244 shares in the second quarter.
• Multiple institutional investors have increased their stakes in Interactive Brokers, with significant boosts from Mainstream Capital Management LLC and Compagnie Lombard Odier SCmA during the same period.
• Insider selling activity has been noted, with Vice Chairman Earl H. Nemser and CFO Paul Jonathan Brody selling large portions of their shares, indicating a 29.60% and 42.37% decrease in their ownership, respectively.

Ballentine Partners LLC purchased a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,244 shares of the financial services provider's stock, valued at approximately $845,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cigna Investments Inc. New purchased a new position in Interactive Brokers Group during the 2nd quarter worth approximately $232,000. Norden Group LLC boosted its position in shares of Interactive Brokers Group by 291.9% in the second quarter. Norden Group LLC now owns 6,036 shares of the financial services provider's stock worth $334,000 after buying an additional 4,496 shares during the period. Mainstream Capital Management LLC boosted its position in shares of Interactive Brokers Group by 327.2% in the second quarter. Mainstream Capital Management LLC now owns 18,372 shares of the financial services provider's stock worth $1,018,000 after buying an additional 14,071 shares during the period. Fifth Third Bancorp grew its holdings in shares of Interactive Brokers Group by 113.0% during the second quarter. Fifth Third Bancorp now owns 144,433 shares of the financial services provider's stock valued at $8,003,000 after buying an additional 76,618 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its position in Interactive Brokers Group by 19,981.2% during the second quarter. Compagnie Lombard Odier SCmA now owns 52,211 shares of the financial services provider's stock valued at $2,893,000 after buying an additional 51,951 shares during the period. Institutional investors and hedge funds own 23.80% of the company's stock.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This represents a 29.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total value of $7,564,412.53. Following the completion of the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. The trade was a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,174,329 shares of company stock worth $75,169,366 over the last three months. Company insiders own 2.97% of the company's stock.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $64.97 on Friday. The company has a market capitalization of $110.20 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.62 and a beta of 1.23. The stock's 50 day moving average price is $63.69 and its 200 day moving average price is $53.46. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company earned $1.76 earnings per share. The company's revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, September 1st were issued a $0.08 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio is currently 16.49%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IBKR. Barclays raised their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Citigroup upped 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. Finally, Piper Sandler lifted their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.38.

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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