Costello Asset Management INC Invests $285,000 in Interactive Brokers Group, Inc. $IBKR

Key Points

• Costello Asset Management INC invested $285,000 in Interactive Brokers Group, purchasing 5,152 shares during the second quarter, indicating strong institutional interest in the company.
• Insider trading activity was notable, with CFO Paul Jonathan Brody selling 17,058 shares for over $1.1 million, which reduced his ownership by 37.62%.
• Analysts have mixed perspectives on the stock, with ratings ranging from a "strong buy" to "hold," as Zacks downgraded it while Barclays raised its target price to $81.00.

Costello Asset Management INC bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,152 shares of the financial services provider's stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. IFP Advisors Inc lifted its position in shares of Interactive Brokers Group by 181.4% during the second quarter. IFP Advisors Inc now owns 4,910 shares of the financial services provider's stock worth $293,000 after purchasing an additional 3,165 shares during the last quarter. Freedom Day Solutions LLC raised its holdings in shares of Interactive Brokers Group by 294.4% in the second quarter. Freedom Day Solutions LLC now owns 57,797 shares of the financial services provider's stock valued at $3,203,000 after acquiring an additional 43,143 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of Interactive Brokers Group in the second quarter valued at about $433,000. Blair William & Co. IL bought a new stake in shares of Interactive Brokers Group in the second quarter valued at about $225,000. Finally, Leo Wealth LLC bought a new stake in shares of Interactive Brokers Group in the second quarter valued at about $345,000. 23.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the sale, the chief financial officer owned 28,289 shares in the company, valued at approximately $1,860,850.42. The trade was a 37.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,205,683 shares of company stock worth $77,217,965 in the last 90 days. 2.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. BMO Capital Markets assumed coverage on Interactive Brokers Group in a report on Friday, October 3rd. They issued an "outperform" rating and a $82.00 price objective for the company. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Weiss Ratings restated a "hold (c+)" rating on shares of Interactive Brokers Group in a report on Saturday, September 27th. Finally, Barclays reiterated an "overweight" rating and issued a $81.00 target price (up previously from $73.00) on shares of Interactive Brokers Group in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.47.

Interactive Brokers Group Price Performance

IBKR opened at $72.62 on Friday. The business's 50-day moving average is $64.76 and its two-hundred day moving average is $55.30. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $72.71. The firm has a market capitalization of $123.17 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.96 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, sell-side 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 declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Interactive Brokers Group's payout ratio is presently 16.49%.

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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