Callan Family Office LLC Takes Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Callan Family Office LLC has acquired a new stake in Interactive Brokers Group, purchasing 7,812 shares valued at approximately $433,000 in the second quarter.
• Insider selling has occurred, with Vice Chairman Earl H. Nemser selling 194,086 shares for over $13 million, representing a 29.6% decrease in his ownership.
• Analysts have raised price targets for Interactive Brokers, with Barclays issuing an overweight rating and a new target of $81, reflecting growing confidence in the firm's performance.

Callan Family Office LLC acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,812 shares of the financial services provider's stock, valued at approximately $433,000.

A number of other institutional investors have also recently made changes to their positions in IBKR. GAMMA Investing LLC lifted its stake in Interactive Brokers Group by 34.7% in the first quarter. GAMMA Investing LLC now owns 2,560 shares of the financial services provider's stock worth $424,000 after acquiring an additional 660 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Interactive Brokers Group by 245.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 48,364 shares of the financial services provider's stock worth $8,009,000 after acquiring an additional 34,364 shares during the period. Ritholtz Wealth Management lifted its stake in Interactive Brokers Group by 4.1% in the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock worth $329,000 after acquiring an additional 79 shares during the period. QRG Capital Management Inc. lifted its stake in Interactive Brokers Group by 3.7% in the first quarter. QRG Capital Management Inc. now owns 5,857 shares of the financial services provider's stock worth $970,000 after acquiring an additional 208 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in Interactive Brokers Group by 14.1% in the first quarter. CENTRAL TRUST Co now owns 6,822 shares of the financial services provider's stock worth $1,130,000 after acquiring an additional 841 shares during the period. Hedge funds and other institutional investors 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 firm's stock in a transaction on 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 completion of the transaction, the insider directly owned 461,500 shares in the company, valued at $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Jonathan Brody sold 116,861 shares of the firm's stock in a transaction 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 transaction, the chief financial officer owned 158,954 shares of the company's stock, 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 1,205,683 shares of company stock valued at $77,217,965 over the last 90 days. Corporate insiders own 2.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IBKR. Barclays reaffirmed an "overweight" rating and issued a $81.00 price target (up previously from $73.00) on shares of Interactive Brokers Group in a research note on Wednesday, October 8th. BMO Capital Markets began coverage on Interactive Brokers Group in a research note on Friday, October 3rd. They issued an "outperform" rating and a $82.00 price target for the company. Citigroup raised their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Zacks Research lowered Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Interactive Brokers Group in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group currently has a consensus rating of "Moderate Buy" and an average target price of $67.34.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $69.36 on Wednesday. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $73.35. The business has a fifty day moving average price of $65.09 and a 200-day moving average price of $55.94. The company has a market capitalization of $117.64 billion, a PE ratio of 35.66, a PEG ratio of 2.90 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the company earned $1.76 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is presently 16.49%.

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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