CX Institutional Trims Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• CX Institutional cut its Interactive Brokers stake by 89.4% in the third quarter, leaving it with 5,944 shares valued at approximately $508,000. Institutional investors collectively own 23.8% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $99. Goldman Sachs set a $111 target, while UBS downgraded the stock to neutral with a $102 target.
• Interactive Brokers exceeded quarterly expectations, reporting $0.69 in EPS versus the $0.64 estimate and revenue of $1.88 billion, up 28.1% year over year. The company also pays an annualized dividend of $0.35 per share, yielding 0.4%.

CX Institutional trimmed its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 89.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,944 shares of the financial services provider's stock after selling 50,098 shares during the period. CX Institutional's holdings in Interactive Brokers Group were worth $508,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Interactive Brokers Group in the 2nd quarter valued at $210,639,000. Bessemer Group Inc. grew its stake in shares of Interactive Brokers Group by 156.0% during the first quarter. Bessemer Group Inc. now owns 3,922,736 shares of the financial services provider's stock valued at $263,097,000 after buying an additional 2,390,247 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Interactive Brokers Group by 2,707.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,192,749 shares of the financial services provider's stock worth $79,998,000 after purchasing an additional 1,150,271 shares during the period. Amundi increased its stake in Interactive Brokers Group by 62.4% in the 1st quarter. Amundi now owns 2,433,236 shares of the financial services provider's stock worth $163,197,000 after purchasing an additional 934,843 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Interactive Brokers Group by 54.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,518,858 shares of the financial services provider's stock valued at $161,988,000 after purchasing an additional 886,372 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IBKR shares. The Goldman Sachs Group reissued a "buy" rating and set a $111.00 price objective on shares of Interactive Brokers Group in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of Interactive Brokers Group in a research note on Wednesday, September 2nd. Raymond James Financial assumed coverage on shares of Interactive Brokers Group in a report on Wednesday, August 26th. They set a "market perform" rating for the company. UBS Group cut Interactive Brokers Group from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $50.00 to $102.00 in a report on Tuesday, September 1st. Finally, China Renaissance started coverage on Interactive Brokers Group in a research report on Tuesday, July 7th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $99.00.

Interactive Brokers Group Stock Performance

IBKR opened at $88.30 on Monday. The company has a market cap of $150.23 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.37. The stock has a fifty day simple moving average of $90.66 and a two-hundred day simple moving average of $85.86. Interactive Brokers Group, Inc. has a 12-month low of $58.95 and a 12-month high of $98.75.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.80 billion. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The company's quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. On average, analysts predict that Interactive Brokers Group, Inc. will post 2.69 EPS for the current year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Tuesday, September 1st were given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. Interactive Brokers Group's dividend payout ratio (DPR) is 14.00%.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.

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