Farther Finance Advisors LLC Purchases 6,760 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Farther Finance Advisors LLC significantly increased its stake in Interactive Brokers Group by 1,093.9%, acquiring an additional 6,760 shares, bringing its total ownership to 7,378 shares valued at approximately $409,000.
• Analysts are optimistic about Interactive Brokers, with Barclays raising its target price from $65.00 to $73.00 and a consensus rating of "Moderate Buy" among analysts.
• Interactive Brokers recently declared a quarterly dividend of $0.08, reflecting an annualized dividend yield of 0.5%, with a current payout ratio of 16.49%.

Farther Finance Advisors LLC boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 1,093.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,378 shares of the financial services provider's stock after purchasing an additional 6,760 shares during the period. Farther Finance Advisors LLC's holdings in Interactive Brokers Group were worth $409,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IBKR. N.E.W. Advisory Services LLC purchased a new stake in Interactive Brokers Group in the first quarter worth $26,000. Contravisory Investment Management Inc. lifted its holdings in Interactive Brokers Group by 300.0% in the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 423 shares during the period. City Holding Co. purchased a new stake in Interactive Brokers Group in the first quarter worth about $33,000. Nvwm LLC purchased a new stake in Interactive Brokers Group in the first quarter worth about $33,000. Finally, ASR Vermogensbeheer N.V. purchased a new stake in Interactive Brokers Group in the first quarter worth about $33,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on IBKR shares. Barclays increased their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Piper Sandler raised their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Citigroup raised their price target 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. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.38.

Insider Activity at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 14,391 shares of the company's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $64.81, for a total value of $932,680.71. Following the sale, the chief financial officer owned 59,643 shares in the company, valued at $3,865,462.83. This represents a 19.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,174,329 shares of company stock valued at $75,169,366 in the last quarter. 2.97% of the stock is owned by corporate insiders.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $66.12 on Monday. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $68.07. The stock's fifty day moving average price is $63.74 and its 200 day moving average price is $53.79. The company has a market cap of $112.15 billion, a price-to-earnings ratio of 33.99, a price-to-earnings-growth ratio of 2.69 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The firm's revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were paid a $0.08 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

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.

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