Bamco Inc. NY Acquires 411,344 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Bamco Inc. NY increased its stake in Interactive Brokers by 9.8%, buying 411,344 shares to own 4,609,768 shares (about 0.27% of IBKR) worth roughly $317.2 million, making IBKR its 21st-largest holding and ~0.8% of Bamco’s portfolio.
• Interactive Brokers beat quarterly expectations, reporting $0.65 EPS vs. $0.50 est. and $1.64 billion in revenue vs. $1.58 billion est., with revenue up 18.5% year-over-year.
• Insiders have been net sellers recently—Vice Chairman Earl Nemser sold 60,200 shares (about $4.53 million) and insiders sold 400,000 shares (~$30.7 million) over the last three months, while institutional ownership stands at about 23.8%.

Bamco Inc. NY increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,609,768 shares of the financial services provider's stock after buying an additional 411,344 shares during the period. Interactive Brokers Group accounts for about 0.8% of Bamco Inc. NY's investment portfolio, making the stock its 21st biggest holding. Bamco Inc. NY owned approximately 0.27% of Interactive Brokers Group worth $317,198,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ballentine Partners LLC lifted its stake in shares of Interactive Brokers Group by 1.0% in the 3rd quarter. Ballentine Partners LLC now owns 15,389 shares of the financial services provider's stock valued at $1,059,000 after purchasing an additional 145 shares during the period. Caitlin John LLC boosted its position in shares of 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 worth $1,734,000 after purchasing an additional 153 shares during the last quarter. Petra Financial Advisors Inc. grew its stake in shares of Interactive Brokers Group by 1.7% during the third quarter. Petra Financial Advisors Inc. now owns 10,221 shares of the financial services provider's stock worth $703,000 after purchasing an additional 167 shares during the period. SBI Securities Co. Ltd. increased its holdings in Interactive Brokers Group by 18.0% in the third quarter. SBI Securities Co. Ltd. now owns 1,180 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 180 shares during the last quarter. Finally, Pullen Investment Management LLC increased its holdings in Interactive Brokers Group by 1.0% in the third quarter. Pullen Investment Management LLC now owns 19,748 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 200 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Interactive Brokers Group Trading Down 1.1%

IBKR stock opened at $66.19 on Friday. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $79.18. The firm has a market cap of $112.27 billion, a PE ratio of 29.88, a P/E/G ratio of 1.85 and a beta of 1.23. The business's 50-day moving average price is $72.65 and its two-hundred day moving average price is $68.34.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. Interactive Brokers Group had a return on equity of 5.12% and a net margin of 9.44%.The company's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. On average, analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, February 27th. Interactive Brokers Group's dividend payout ratio is presently 14.48%.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 60,200 shares of the firm's stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $75.30, for a total transaction of $4,533,060.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders sold 400,000 shares of company stock worth $30,725,122. 2.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IBKR. BMO Capital Markets raised their target price on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, January 21st. Zacks Research cut Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Interactive Brokers Group in a research report on Monday, December 29th. Finally, Barclays set a $83.00 price objective on shares of Interactive Brokers Group and gave the stock an "overweight" rating in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.39.

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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