Coronation Fund Managers Ltd. Buys 12,311 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Coronation Fund Managers Ltd. increased its stake in Interactive Brokers Group by 6.7%, acquiring an additional 12,311 shares in the first quarter, bringing its total to 196,761 shares valued at approximately $32.6 million.
• Interactive Brokers Group reported quarterly earnings of $0.51 per share, exceeding analysts' expectations of $0.46, with a revenue of $1.48 billion, up 14.7% year-over-year.
• The company recently announced a quarterly dividend of $0.08 per share, with a payout ratio of 16.49%, reflecting a yield of 0.5%.

Coronation Fund Managers Ltd. grew its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,761 shares of the financial services provider's stock after purchasing an additional 12,311 shares during the period. Interactive Brokers Group makes up about 1.8% of Coronation Fund Managers Ltd.'s holdings, making the stock its 21st biggest position. Coronation Fund Managers Ltd.'s holdings in Interactive Brokers Group were worth $32,582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. N.E.W. Advisory Services LLC purchased a new position in Interactive Brokers Group during the first quarter valued at approximately $26,000. Bellwether Advisors LLC purchased a new position in Interactive Brokers Group during the fourth quarter valued at approximately $35,000. City Holding Co. purchased a new position in Interactive Brokers Group during the first quarter valued at approximately $33,000. Nvwm LLC purchased a new position in Interactive Brokers Group during the first quarter valued at approximately $33,000. Finally, ASR Vermogensbeheer N.V. purchased a new position in Interactive Brokers Group during the first quarter valued at approximately $33,000. Institutional investors own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IBKR shares. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. The Goldman Sachs Group boosted their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Piper Sandler boosted their price target 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. Citigroup boosted their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Barclays boosted their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.38.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR traded down $4.14 during trading hours on Wednesday, reaching $63.49. The company's stock had a trading volume of 9,285,735 shares, compared to its average volume of 7,199,826. The firm has a market capitalization of $107.33 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 2.70 and a beta of 1.22. The firm has a 50-day simple moving average of $58.25 and a 200-day simple moving average of $51.37. Interactive Brokers Group, Inc. has a 1 year low of $29.41 and a 1 year high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The company 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 firm's revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.76 EPS. Equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

Insiders Place Their Bets

In other Interactive Brokers Group 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 completion of the sale, the insider owned 360,114 shares of the company's stock, valued at $23,904,367.32. This represents a 9.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.97% of the stock is owned by insiders.

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.