Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Interactive Brokers Group, Inc. $IBKR

Key Points

• Empirical Wealth Management has acquired a new stake in Interactive Brokers Group, purchasing 5,632 shares valued at approximately $312,000 in the second quarter.
• Interactive Brokers reported earnings of $0.51 per share, exceeding estimates, with quarterly revenue of $1.48 billion, up 14.7% from the previous year.
• The company recently announced a quarterly dividend of $0.08 per share, yielding 0.5%, with a payout ratio currently at 16.49%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,632 shares of the financial services provider's stock, valued at approximately $312,000.

Several other institutional investors have also recently made changes to their positions in the business. N.E.W. Advisory Services LLC bought a new stake in Interactive Brokers Group during the 1st quarter valued at approximately $26,000. ORG Partners LLC grew its holdings in Interactive Brokers Group by 312.9% during the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider's stock valued at $27,000 after buying an additional 363 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Interactive Brokers Group by 300.0% during the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider's stock valued at $31,000 after buying an additional 423 shares during the last quarter. City Holding Co. purchased a new position in shares of Interactive Brokers Group in the first quarter worth $33,000. Finally, Nvwm LLC bought a new position in shares of Interactive Brokers Group during the first quarter worth $33,000. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Trading Down 1.1%

IBKR opened at $69.61 on Tuesday. The stock has a 50-day moving average of $64.42 and a 200 day moving average of $54.89. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $71.78. The firm has a market cap of $118.07 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.89 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The company's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.76 earnings per share. On average, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 29th. Interactive Brokers Group's payout ratio is presently 16.49%.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the sale, the insider directly owned 461,500 shares of the company's stock, valued at $31,146,635. This represents a 29.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the sale, the chief financial officer directly owned 158,954 shares of the company's stock, valued at approximately $10,289,092.42. The trade was 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.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. BMO Capital Markets initiated coverage on Interactive Brokers Group in a report on Friday. They issued an "outperform" rating and a $82.00 target price on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. Citigroup lifted their price objective on 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, Zacks Research cut Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. 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 stock. According to data from MarketBeat.com, Interactive Brokers Group presently has a consensus rating of "Moderate Buy" and an average target price of $64.47.

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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