Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Interactive Brokers Group by 308.5%, acquiring an additional 124,241 shares, bringing their total holdings to 164,514 shares worth approximately $27.2 million.
• The stock has shown significant momentum, recently trading at $65.91 and achieving a 2.6% increase, with a market capitalization of $111.42 billion.
• Interactive Brokers Group announced a quarterly dividend of $0.08 per share, with an expected annualized dividend yield of 0.5%, highlighting its commitment to returning value to shareholders.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 308.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,514 shares of the financial services provider's stock after acquiring an additional 124,241 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Interactive Brokers Group were worth $27,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IBKR. CWM LLC boosted its stake in Interactive Brokers Group by 6.6% in the first quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock valued at $176,000 after acquiring an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Interactive Brokers Group by 0.8% in the first quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock valued at $1,410,000 after acquiring an additional 70 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Interactive Brokers Group by 4.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock valued at $329,000 after buying an additional 79 shares in the last quarter. Joel Isaacson & Co. LLC lifted its stake in shares of Interactive Brokers Group by 3.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider's stock valued at $411,000 after buying an additional 79 shares in the last quarter. Finally, Securian Asset Management Inc. lifted its stake in shares of Interactive Brokers Group by 1.2% during the 1st quarter. Securian Asset Management Inc. now owns 8,331 shares of the financial services provider's stock valued at $1,380,000 after buying an additional 100 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Trading Up 2.2%

Shares of Interactive Brokers Group stock traded up $1.45 on Tuesday, hitting $67.63. 3,890,082 shares of the company traded hands, compared to its average volume of 5,515,879. The firm's 50-day simple moving average is $58.25 and its 200 day simple moving average is $51.37. The company has a market cap of $114.33 billion, a P/E ratio of 34.77, a P/E/G ratio of 2.70 and a beta of 1.22. Interactive Brokers Group, Inc. has a 12-month low of $29.32 and a 12-month high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $1.76 EPS. Analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be given a dividend of $0.08 per share. The ex-dividend date is 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 16.49%.

Insider Buying and Selling at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 39,786 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $66.38, for a total transaction of $2,640,994.68. Following the transaction, the insider owned 360,114 shares of the company's stock, valued at approximately $23,904,367.32. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on IBKR shares. Barclays upped 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 note on Friday, July 18th. The Goldman Sachs Group upped their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Bank of America dropped their price target on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Citigroup upped their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Piper Sandler increased their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $59.38.

Interactive Brokers Group 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.