California Public Employees Retirement System Has $62.43 Million Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• CalPERS increased its stake in Interactive Brokers Group by 6.3% in the first quarter, buying 55,097 additional shares. The fund now owns 930,850 shares valued at about $62.4 million.
• Insider selling was also reported: Director Lawrence E. Harris sold 26,000 shares for roughly $2.0 million, reducing his position by 13.03%.
• Analysts remain mostly positive on IBKR, with a consensus rating of “Moderate Buy” and an average price target of $93.89. The stock also recently beat quarterly EPS estimates and raised its dividend slightly.

California Public Employees Retirement System raised its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 930,850 shares of the financial services provider's stock after purchasing an additional 55,097 shares during the quarter. California Public Employees Retirement System owned approximately 0.05% of Interactive Brokers Group worth $62,432,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IBKR. HM Payson & Co. boosted its holdings in shares of Interactive Brokers Group by 5.8% in the 4th quarter. HM Payson & Co. now owns 2,411 shares of the financial services provider's stock valued at $155,000 after buying an additional 133 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Interactive Brokers Group by 1.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 11,483 shares of the financial services provider's stock worth $738,000 after buying an additional 143 shares during the last quarter. S&CO Inc. raised 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 in the last quarter. Thrive Wealth Management LLC raised 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 in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Interactive Brokers Group by 2.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 8,287 shares of the financial services provider's stock valued at $533,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Insider Buying and Selling

In related news, Director Lawrence E. Harris sold 26,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

IBKR has been the subject of a number of analyst reports. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a research report on Friday, May 1st. 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. Wolfe Research started coverage on shares of Interactive Brokers Group in a research note on Monday, June 8th. They issued an "outperform" rating and a $101.00 target price for the company. China Renaissance assumed coverage on Interactive Brokers Group in a report on Tuesday, July 7th. They set a "hold" rating for the company. Finally, Jefferies Financial Group lowered their price target on Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.89.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $90.53 on Monday. The business has a fifty day simple moving average of $89.43 and a two-hundred day simple moving average of $78.57. Interactive Brokers Group, Inc. has a 1 year low of $58.95 and a 1 year high of $97.84. The company has a market capitalization of $153.57 billion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 2.07 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. As a group, equities analysts anticipate that Interactive Brokers Group, Inc. will post 2.55 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

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