Connor Clark & Lunn Investment Management Ltd. Lowers Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• Connor Clark & Lunn trimmed its stake in Interactive Brokers by 8.7% in Q3, selling 69,064 shares and leaving it with 727,208 shares valued at about $50.04 million.
• Insider selling was significant: Vice Chairman Earl H. Nemser sold 145,000 shares at an average $77.85 (~$11.29M), and insiders sold 400,000 shares totaling roughly $30.7M over the last quarter.
• Company performance and dividend: Interactive Brokers beat quarterly estimates (EPS $0.65 vs. $0.50 consensus; revenue $1.64B, +18.5% YoY) and announced a $0.08 quarterly dividend (0.5% yield; ex-dividend Feb 27).

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 727,208 shares of the financial services provider's stock after selling 69,064 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Interactive Brokers Group were worth $50,039,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Interactive Brokers Group during the third quarter worth approximately $27,000. N.E.W. Advisory Services LLC raised its stake in shares of Interactive Brokers Group by 300.0% during the second quarter. N.E.W. Advisory Services LLC now owns 632 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 474 shares in the last quarter. Smithfield Trust Co boosted its holdings in shares of Interactive Brokers Group by 124.0% in the second quarter. Smithfield Trust Co now owns 764 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 423 shares during the period. Sittner & Nelson LLC grew its stake in Interactive Brokers Group by 300.0% in the second quarter. Sittner & Nelson LLC now owns 788 shares of the financial services provider's stock worth $44,000 after purchasing an additional 591 shares in the last quarter. Finally, Ramsey Quantitative Systems bought a new position in Interactive Brokers Group in the second quarter worth approximately $44,000. Institutional investors own 23.80% of the company's stock.

Insider Transactions at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 145,000 shares of the company's stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $77.85, for a total transaction of $11,288,250.00. Following the transaction, the insider directly owned 155,000 shares of the company's stock, valued at $12,066,750. This represents a 48.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 400,000 shares of company stock worth $30,725,122. Corporate insiders own 2.97% of the company's stock.

Interactive Brokers Group Stock Down 2.1%

NASDAQ:IBKR opened at $66.92 on Friday. The stock has a market capitalization of $113.51 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.91 and a beta of 1.23. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $79.18. The firm has a 50 day moving average of $72.67 and a 200 day moving average of $68.28.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.15. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The business's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, February 27th. Interactive Brokers Group's payout ratio is 14.48%.

Analysts Set New Price Targets

Several research firms have commented on IBKR. Weiss Ratings restated a "hold (c)" rating on shares of Interactive Brokers Group in a report on Monday, December 29th. BMO Capital Markets increased their price target on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 21st. Barclays set a $83.00 price target on Interactive Brokers Group and gave the company an "overweight" rating in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.39.

Interactive Brokers Group Company Profile

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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