Coronation Fund Managers Ltd. Boosts Stock Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Coronation Fund Managers Ltd. increased their stake in Interactive Brokers Group by 233.8% during the second quarter, owning a total of 656,725 shares now valued at approximately $36.39 million.
• Interactive Brokers recently reported earnings of $0.57 EPS, exceeding expectations and marking a 21.2% year-over-year revenue increase to $1.66 billion.
• The company declared a quarterly dividend of $0.08 per share, set to be paid on December 12th, with a current yield of 0.5%.

Coronation Fund Managers Ltd. boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 233.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 656,725 shares of the financial services provider's stock after acquiring an additional 459,964 shares during the quarter. Interactive Brokers Group accounts for 2.0% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 15th biggest holding. Coronation Fund Managers Ltd.'s holdings in Interactive Brokers Group were worth $36,389,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Interactive Brokers Group by 50.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider's stock valued at $98,886,000 after acquiring an additional 199,467 shares during the period. Thrive Wealth Management LLC lifted its holdings in shares of Interactive Brokers Group by 243.8% in the 2nd quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider's stock worth $482,000 after buying an additional 6,163 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Interactive Brokers Group by 1,093.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider's stock worth $409,000 after buying an additional 6,760 shares during the period. Truist Financial Corp lifted its holdings in shares of Interactive Brokers Group by 237.8% in the 2nd quarter. Truist Financial Corp now owns 202,665 shares of the financial services provider's stock worth $11,230,000 after buying an additional 142,662 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Interactive Brokers Group by 312.8% in the 2nd quarter. TD Asset Management Inc now owns 104,644 shares of the financial services provider's stock worth $5,798,000 after buying an additional 79,294 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Trading Up 1.1%

IBKR opened at $66.94 on Tuesday. The firm has a market cap of $113.54 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 2.66 and a beta of 1.22. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $73.35. The stock has a fifty day moving average price of $65.32 and a 200-day moving average price of $56.80.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company posted $1.61 EPS. The firm's quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts forecast 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, December 12th. Investors of record on Monday, December 1st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group's dividend payout ratio is currently 15.38%.

Wall Street Analyst Weigh In

IBKR has been the subject of several research reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $91.00 target price on shares of Interactive Brokers Group in a report on Friday. Barclays set a $80.00 target price on Interactive Brokers Group and gave the stock an "overweight" rating in a report on Friday. Weiss Ratings reiterated a "hold (c)" rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. BMO Capital Markets upped their target price on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Citigroup upped their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $71.34.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares of the company's stock, valued at $31,146,635. This represents a 29.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total value of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,205,683 shares of company stock worth $77,217,965 over the last ninety days. 2.97% of the stock is currently owned by corporate insiders.

About Interactive Brokers Group

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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