Element Squared LLC Purchases Shares of 31,696 Interactive Brokers Group, Inc. $IBKR

Key Points

• Element Squared LLC opened a new position in Interactive Brokers Group during the first quarter, buying 31,696 shares worth about $2.13 million.
• Several other institutional investors also increased their stakes, and 23.8% of IBKR shares are now held by institutions and hedge funds.
• Analysts remain broadly positive on the stock: IBKR has an average “Moderate Buy” rating with a consensus price target of $85.22, while the company recently posted earnings that beat estimates and raised its quarterly dividend.

Element Squared LLC purchased a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 31,696 shares of the financial services provider's stock, valued at approximately $2,126,000.

A number of other large investors also recently modified their holdings of IBKR. AQR Capital Management LLC boosted its position in Interactive Brokers Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider's stock valued at $2,269,000 after purchasing an additional 2,713 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Interactive Brokers Group by 307.9% during the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider's stock worth $803,000 after purchasing an additional 10,943 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Interactive Brokers Group during the 2nd quarter worth approximately $318,000. Daiwa Securities Group Inc. boosted its holdings in shares of Interactive Brokers Group by 291.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider's stock valued at $1,973,000 after buying an additional 26,500 shares during the last quarter. Finally, AXA S.A. boosted its holdings in shares of Interactive Brokers Group by 128.1% in the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider's stock valued at $710,000 after buying an additional 7,197 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares of the company's stock, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

IBKR has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Jefferies Financial Group cut their price target on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Keefe, Bruyette & Woods began coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price target for the company. BMO Capital Markets lifted their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Wolfe Research initiated coverage on shares of Interactive Brokers Group in a research note on Monday, June 8th. They set an "outperform" rating and a $101.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Interactive Brokers Group presently has an average rating of "Moderate Buy" and an average target price of $85.22.

Interactive Brokers Group Price Performance

IBKR opened at $87.04 on Wednesday. The business has a fifty day simple moving average of $85.90 and a 200 day simple moving average of $75.91. The company has a market capitalization of $147.65 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 2.44 and a beta of 1.32. Interactive Brokers Group, Inc. has a 1 year low of $53.14 and a 1 year high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 EPS. Equities analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were paid a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date was Monday, June 1st. Interactive Brokers Group's dividend payout ratio is currently 15.09%.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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