Bank of New York Mellon Corp Lowers Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Bank of New York Mellon reduced its stake in Interactive Brokers Group by 9.8% in the first quarter, selling 248,333 shares and ending with about 2.28 million shares valued at roughly $153.1 million.
• Analysts remain generally upbeat on IBKR, with Bank of America raising its price target to $106 and several firms issuing buy/overweight ratings; the stock currently carries a Moderate Buy consensus and an average target of $93.89.
• Interactive Brokers reported Q1 earnings of $0.60 per share, beating estimates, while revenue rose 17% year over year to $1.68 billion; the company also increased its quarterly dividend to $0.0875 per share.

Bank of New York Mellon Corp trimmed its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,282,311 shares of the financial services provider's stock after selling 248,333 shares during the period. Bank of New York Mellon Corp owned approximately 0.13% of Interactive Brokers Group worth $153,075,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Reflection Asset Management purchased a new position in Interactive Brokers Group in the fourth quarter worth $26,000. IMA Advisory Services Inc. boosted its position 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 purchasing an additional 178 shares in the last quarter. Tobam acquired a new position in shares of Interactive Brokers Group during the 4th quarter worth $30,000. Entrust Financial LLC acquired a new position in shares of Interactive Brokers Group during the 4th quarter worth $31,000. Finally, SHP Wealth Management purchased a new position in shares of 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Bank of America boosted their price objective on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Piper Sandler set a $105.00 target price on shares of Interactive Brokers Group and gave the company an "overweight" rating in a report on Wednesday. Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price target for the company. BMO Capital Markets lifted their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Interactive Brokers Group has an average rating of "Moderate Buy" and an average target price of $93.89.

Interactive Brokers Group Stock Performance

Shares of IBKR stock opened at $90.53 on Monday. The firm has a 50-day moving average price of $89.43 and a 200 day moving average price of $78.57. Interactive Brokers Group, Inc. has a twelve month low of $58.95 and a twelve month high of $97.84. The company has a market capitalization of $153.57 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.07 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results 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. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the firm posted $1.94 EPS. Interactive Brokers Group's revenue was up 17.0% on a year-over-year basis. As a group, research analysts predict that Interactive Brokers Group, Inc. will post 2.55 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

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

Insiders Place Their Bets

In other news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares of the company's stock, valued at $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 is available at this link. 2.80% of the stock is currently owned by corporate insiders.

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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