Envestnet Portfolio Solutions Inc. Cuts Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• Envestnet Portfolio Solutions cut its stake in Interactive Brokers Group by 68.5% in the fourth quarter, leaving it with 14,193 shares worth about $913,000.
• Analysts remain broadly positive on IBKR: seven rate it a Buy and three a Hold, with a consensus “Moderate Buy” rating and an average price target of $83.25.
• The company reported Q1 earnings that beat EPS expectations at $0.60 per share and raised its quarterly dividend to $0.0875 per share, up from $0.08 previously.

Envestnet Portfolio Solutions Inc. lowered its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 68.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,193 shares of the financial services provider's stock after selling 30,920 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Interactive Brokers Group were worth $913,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC raised its position in Interactive Brokers Group by 1.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 11,483 shares of the financial services provider's stock worth $738,000 after buying an additional 143 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Interactive Brokers Group by 1.0% in the 3rd quarter. Ballentine Partners LLC now owns 15,389 shares of the financial services provider's stock valued at $1,059,000 after purchasing an additional 145 shares in the last quarter. Caitlin John LLC increased its holdings in shares of Interactive Brokers Group by 0.6% in the 3rd quarter. Caitlin John LLC now owns 25,195 shares of the financial services provider's stock valued at $1,734,000 after purchasing an additional 153 shares in the last quarter. S&CO Inc. increased its holdings in shares of Interactive Brokers Group by 0.3% in the 4th quarter. S&CO Inc. now owns 63,080 shares of the financial services provider's stock valued at $4,056,000 after purchasing an additional 160 shares in the last quarter. Finally, Thrive Wealth Management LLC increased its holdings in shares of Interactive Brokers Group by 1.8% in the 4th quarter. Thrive Wealth Management LLC now owns 9,112 shares of the financial services provider's stock valued at $586,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a report on Friday, May 1st. Keefe, Bruyette & Woods assumed coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price target for the company. Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Zacks Research downgraded shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, BMO Capital Markets increased their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.25.

Insider Buying and Selling

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

Interactive Brokers Group Price Performance

Shares of IBKR opened at $81.35 on Monday. The company has a market capitalization of $138.00 billion, a PE ratio of 35.06, a P/E/G ratio of 2.25 and a beta of 1.32. Interactive Brokers Group, Inc. has a 52-week low of $49.15 and a 52-week high of $88.44. The company has a 50-day simple moving average of $75.48 and a 200-day simple moving average of $71.54.

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 analysts' expectations of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 EPS. On average, research analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. 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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