CenterBook Partners LP Purchases 25,108 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• CenterBook Partners LP initiated a position in Interactive Brokers Group, buying 25,108 shares worth approximately $2.145 million in the third quarter.
• Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $102.87; targets cited range from $100 to $111.
• Interactive Brokers reported quarterly EPS of $0.67, matching estimates, while revenue rose 15.6% year over year. It also raised its quarterly dividend to $0.15 per share from $0.0875.

CenterBook Partners LP purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,108 shares of the financial services provider's stock, valued at approximately $2,145,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Fiduciary Financial Group LLC grew its stake in Interactive Brokers Group by 3.1% in the second quarter. Fiduciary Financial Group LLC now owns 3,968 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 118 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Interactive Brokers Group by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 17,475 shares of the financial services provider's stock worth $1,172,000 after purchasing an additional 150 shares during the last quarter. Everhart Financial Group Inc. raised its stake in shares of Interactive Brokers Group by 3.8% during the 3rd quarter. Everhart Financial Group Inc. now owns 5,167 shares of the financial services provider's stock worth $441,000 after purchasing an additional 191 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Interactive Brokers Group by 62.2% during the 3rd quarter. CoreCap Advisors LLC now owns 524 shares of the financial services provider's stock worth $45,000 after purchasing an additional 201 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of Interactive Brokers Group by 0.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 57,807 shares of the financial services provider's stock worth $4,938,000 after purchasing an additional 222 shares in the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence Harris sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $82.61, for a total value of $2,065,250.00. Following the completion of the sale, the director directly owned 148,482 shares in the company, valued at approximately $12,266,098.02. The trade was a 14.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $104.00 price target on Interactive Brokers Group and gave the company a "buy" rating in a report on Friday, October 16th. BMO Capital Markets reissued an "outperform" rating and issued a $100.00 price target (down from $105.00) on shares of Interactive Brokers Group in a research note on Friday, October 16th. The Goldman Sachs Group restated a "buy" rating and issued a $111.00 price objective on shares of Interactive Brokers Group in a report on Thursday, October 1st. Seaport Research Partners raised shares of Interactive Brokers Group to a "buy" rating in a research report on Monday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of Interactive Brokers Group in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Interactive Brokers Group has an average rating of "Moderate Buy" and a consensus target price of $102.87.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $75.82 on Monday. Interactive Brokers Group, Inc. has a one year low of $58.95 and a one year high of $98.75. The company's fifty day moving average price is $86.40 and its two-hundred day moving average price is $82.97. The company has a market capitalization of $129.00 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.24 and a beta of 1.37.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.67 earnings per share for the quarter, hitting analysts' consensus estimates of $0.67. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.86 billion. Interactive Brokers Group had a return on equity of 5.38% and a net margin of 10.03%. The business's quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.0875. Interactive Brokers Group's payout ratio is currently 13.46%.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc is an electronic brokerage firm that provides trade execution, clearing and custody services to individual investors and institutional clients, including financial advisers, hedge funds and proprietary trading groups. Its platforms give clients access to a range of investments, including stocks, options, futures, currencies, bonds and funds, with product availability varying by location.

The company serves clients in many countries and provides access to markets around the world.

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