Chemistry Wealth Management LLC Invests $293,000 in Interactive Brokers Group, Inc. $IBKR

Key Points

• Chemistry Wealth Management LLC invested approximately $293,000 in Interactive Brokers Group, purchasing 5,288 shares during the 2nd quarter.
• Interactive Brokers reported a quarterly earnings per share (EPS) of $0.51, exceeding analyst estimates, with revenue of $1.48 billion, up 14.7% year-over-year.
• The firm announced a dividend of $0.08 per share, with a payout ratio of 16.49% and a dividend yield of 0.5%.

Chemistry Wealth Management LLC purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,288 shares of the financial services provider's stock, valued at approximately $293,000.

Several other institutional investors have also recently made changes to their positions in IBKR. N.E.W. Advisory Services LLC bought a new position in shares of Interactive Brokers Group in the first quarter worth $26,000. City Holding Co. purchased a new position in Interactive Brokers Group in the first quarter worth $33,000. Nvwm LLC purchased a new stake in Interactive Brokers Group during the first quarter valued at about $33,000. ASR Vermogensbeheer N.V. purchased a new stake in Interactive Brokers Group during the first quarter valued at about $33,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Interactive Brokers Group during the first quarter valued at about $43,000. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Trading Up 0.6%

NASDAQ:IBKR opened at $63.70 on Monday. Interactive Brokers Group, Inc. has a 12 month low of $31.07 and a 12 month high of $68.07. The company has a market cap of $108.04 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The company has a 50 day simple moving average of $62.73 and a two-hundred day simple moving average of $52.54.

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

Interactive Brokers Group Announces Dividend

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

Insider Activity

In other news, CFO Paul Jonathan Brody sold 104,906 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $62.51, for a total transaction of $6,557,674.06. Following the sale, the chief financial officer directly owned 787,601 shares in the company, valued at approximately $49,232,938.51. This represents a 11.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the sale, the insider owned 461,500 shares in the company, valued at $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 446,371 shares of company stock worth $28,954,715 over the last 90 days. Corporate insiders own 2.97% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IBKR shares. Citigroup increased their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Piper Sandler raised their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays raised their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.38.

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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