Empower Advisory Group LLC Sells 229,275 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Empower Advisory Group LLC reduced its holdings in Interactive Brokers Group by 33.9%, selling 229,275 shares, leaving them with approximately 0.11% ownership valued at $74.1 million.
• Several institutional investors, including Bank of America and GAMMA Investing LLC, significantly increased their holdings in Interactive Brokers, indicating strong interest and potential growth in the company.
• Wall Street analysts have expressed positive sentiments, raising their price targets and assigning buy ratings, with the average target price now at $59.38.

Empower Advisory Group LLC trimmed its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 33.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 447,651 shares of the financial services provider's stock after selling 229,275 shares during the period. Empower Advisory Group LLC owned approximately 0.11% of Interactive Brokers Group worth $74,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of Interactive Brokers Group by 91.4% during the 4th quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock worth $413,226,000 after acquiring an additional 1,117,186 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Interactive Brokers Group by 22,211.1% in the 1st quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock worth $701,950,000 after purchasing an additional 422,010 shares during the last quarter. Fullerton Fund Management Co Ltd. acquired a new stake in Interactive Brokers Group in the 4th quarter worth approximately $69,057,000. Two Sigma Advisers LP boosted its position in Interactive Brokers Group by 456.0% during the fourth quarter. Two Sigma Advisers LP now owns 465,900 shares of the financial services provider's stock worth $82,311,000 after purchasing an additional 382,100 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Interactive Brokers Group by 343.9% in the fourth quarter. Two Sigma Investments LP now owns 489,175 shares of the financial services provider's stock valued at $86,423,000 after purchasing an additional 378,981 shares during the period. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Up 0.7%

Shares of IBKR stock traded up $0.43 during mid-day trading on Thursday, reaching $64.25. The stock had a trading volume of 3,356,525 shares, compared to its average volume of 5,667,334. The firm has a market cap of $108.61 billion, a PE ratio of 33.03, a P/E/G ratio of 2.60 and a beta of 1.22. Interactive Brokers Group, Inc. has a one year low of $28.40 and a one year high of $66.82. The firm's 50 day simple moving average is $57.37 and its 200 day simple moving average is $51.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company earned $1.76 earnings per share. The business's revenue was up 14.7% compared to the same quarter last year. Sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

Insider Buying and Selling

In other news, Vice Chairman Earl H. Nemser sold 39,786 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $66.38, for a total value of $2,640,994.68. Following the completion of the transaction, the insider directly owned 360,114 shares of the company's stock, valued at approximately $23,904,367.32. This represents a 9.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IBKR shares. The Goldman Sachs Group raised their target price on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler boosted their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Bank of America lowered their target price on Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup upped their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.38.

About Interactive Brokers Group

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.