Catalyst Capital Advisors LLC Makes New Investment in Interactive Brokers Group, Inc. $IBKR

Key Points

• Catalyst Capital Advisors opened a new position in Interactive Brokers Group, buying 31,500 shares worth about $2.11 million in the first quarter.
• Interactive Brokers reported Q1 earnings of $0.60 per share, topping estimates, while revenue rose 17% year over year to $1.68 billion. The company also increased its quarterly dividend to $0.0875 per share.
• Analysts have become more optimistic on IBKR, with firms including Bank of America and Barclays raising price targets; the stock currently carries a Moderate Buy consensus rating.

Catalyst Capital Advisors LLC bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 31,500 shares of the financial services provider's stock, valued at approximately $2,113,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covenant Asset Management LLC acquired a new position in shares of Interactive Brokers Group during the 4th quarter valued at about $3,028,000. Crocodile Capital Partners GmbH purchased a new position in Interactive Brokers Group during the fourth quarter worth about $12,041,000. OFI Invest Asset Management acquired a new position in Interactive Brokers Group in the 4th quarter valued at about $22,356,000. Leonteq Securities AG purchased a new stake in shares of Interactive Brokers Group in the 4th quarter valued at approximately $1,746,000. Finally, Successful Portfolios LLC purchased a new stake in shares of Interactive Brokers Group in the 4th quarter valued at approximately $1,431,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Down 1.8%

Interactive Brokers Group stock opened at $90.53 on Friday. Interactive Brokers Group, Inc. has a 52-week low of $58.95 and a 52-week high of $97.84. The firm has a market cap of $153.57 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.33. The company's 50 day moving average is $89.43 and its two-hundred day moving average is $78.48.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) 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 business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period last year, the firm earned $1.94 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research 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 company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were issued a dividend of $0.0875 per share. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio (DPR) is presently 15.09%.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the firm's stock in a transaction on 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 sale, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.80% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on IBKR shares. Bank of America lifted their price target on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the company a "buy" rating in a research report on Tuesday. Keefe, Bruyette & Woods assumed coverage on Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price objective for the company. Barclays lifted their target price on Interactive Brokers Group from $93.00 to $108.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. China Renaissance initiated coverage on shares of Interactive Brokers Group in a research report on Tuesday, July 7th. They issued a "hold" rating on the stock. Finally, Zacks Research upgraded Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus target price of $93.89.

About Interactive Brokers Group

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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