Eurizon Capital SGR S.p.A. Buys New Shares in Interactive Brokers Group, Inc. $IBKR

Key Points

• Eurizon Capital SGR opened a new position in Interactive Brokers Group, buying 29,877 shares worth about $1.92 million in the fourth quarter.
• Several other institutional investors also increased or initiated stakes, while institutions now hold about 23.8% of the company and insiders own 2.8%.
• Interactive Brokers reported Q1 earnings of $0.60 per share, beating estimates, and raised its quarterly dividend to $0.0875 per share; analysts currently rate the stock Moderate Buy with a consensus target of $83.25.

Eurizon Capital SGR S.p.A. bought a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,877 shares of the financial services provider's stock, valued at approximately $1,921,000.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of Interactive Brokers Group by 36.8% in the third quarter. Jones Financial Companies Lllp now owns 26,875 shares of the financial services provider's stock valued at $1,777,000 after buying an additional 7,234 shares during the period. State of Michigan Retirement System lifted its stake in shares of Interactive Brokers Group by 15.0% in the third quarter. State of Michigan Retirement System now owns 120,400 shares of the financial services provider's stock valued at $8,285,000 after buying an additional 15,684 shares during the period. Hartford Investment Management Co. bought a new stake in shares of Interactive Brokers Group in the third quarter valued at about $1,798,000. Citigroup Inc. lifted its stake in shares of Interactive Brokers Group by 61.8% in the third quarter. Citigroup Inc. now owns 2,432,598 shares of the financial services provider's stock valued at $167,387,000 after buying an additional 928,978 shares during the period. Finally, Crocodile Capital Partners GmbH bought a new stake in shares of Interactive Brokers Group in the fourth quarter valued at about $12,041,000. Institutional investors own 23.80% of the company's stock.

Insider Activity

In other news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction that occurred on 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 completion of the transaction, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company's stock.

Interactive Brokers Group Stock Up 0.0%

Shares of IBKR opened at $88.72 on Wednesday. The stock has a market cap of $150.50 billion, a price-to-earnings ratio of 38.24, a P/E/G ratio of 2.45 and a beta of 1.32. Interactive Brokers Group, Inc. has a 12 month low of $49.15 and a 12 month high of $91.02. The company has a 50-day moving average price of $77.44 and a two-hundred day moving average price of $72.10.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $1.68 billion during 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 company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. Equities research analysts expect that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders 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 dividend yield of 0.4%. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date is Monday, June 1st. Interactive Brokers Group's dividend payout ratio is presently 15.09%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IBKR. Zacks Research cut shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Barclays raised their price target on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Piper Sandler raised their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods began coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.25.

About Interactive Brokers Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.