Eagle Strategies LLC Buys 40,330 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Eagle Strategies LLC significantly increased its stake in Interactive Brokers Group, acquiring 40,330 additional shares and growing its total holdings by 626.8%.
• In August, Vice Chairman Earl H. Nemser sold 194,086 shares at an average price of $67.49, decreasing his ownership by 29.60%.
• Analysts have varying ratings on IBKR shares, with Barclays setting a price target of $81.00 and Zacks Research downgrading it from "strong-buy" to "hold."

Eagle Strategies LLC grew its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 626.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,764 shares of the financial services provider's stock after buying an additional 40,330 shares during the quarter. Eagle Strategies LLC's holdings in Interactive Brokers Group were worth $2,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Interactive Brokers Group by 2.8% during the first quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider's stock worth $1,714,108,000 after buying an additional 280,004 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Interactive Brokers Group by 1,476.3% in the first quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock worth $237,453,000 after purchasing an additional 1,343,007 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Interactive Brokers Group by 13.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider's stock worth $203,710,000 after purchasing an additional 145,870 shares during the last quarter. Invesco Ltd. grew its stake in shares of Interactive Brokers Group by 45.6% in the first quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider's stock worth $184,668,000 after purchasing an additional 349,255 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Interactive Brokers Group by 8.7% in the first quarter. Northern Trust Corp now owns 952,772 shares of the financial services provider's stock worth $157,770,000 after purchasing an additional 76,283 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider owned 461,500 shares in the company, valued at approximately $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 transaction of $7,564,412.53. Following the transaction, the chief financial officer owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,205,683 shares of company stock worth $77,217,965 in the last quarter. Company insiders own 2.97% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on IBKR shares. Barclays reissued an "overweight" rating and issued a $81.00 price objective (up previously from $73.00) on shares of Interactive Brokers Group in a research note on Wednesday. Citigroup boosted their price objective 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. BMO Capital Markets started coverage on shares of Interactive Brokers Group in a research note on Friday, October 3rd. They issued an "outperform" rating and a $82.00 price objective on the stock. Zacks Research cut shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.47.

Interactive Brokers Group Stock Up 3.9%

IBKR stock opened at $72.05 on Thursday. The firm has a market cap of $122.21 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.85 and a beta of 1.22. Interactive Brokers Group, Inc. has a 12-month low of $32.82 and a 12-month high of $72.30. The company's fifty day simple moving average is $64.62 and its 200 day simple moving average is $55.11.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released 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. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. Interactive Brokers Group's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 earnings per share. Research analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group's dividend payout ratio is currently 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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