Fifth Third Bancorp Purchases 127,903 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Fifth Third Bancorp boosted its stake in Interactive Brokers Group by 67.2% in the first quarter, adding 127,903 shares and bringing its total holding to 318,274 shares worth about $21.35 million.
• Interactive Brokers reported Q1 earnings of $0.60 per share, topping analyst expectations, while revenue reached $1.68 billion and rose 17% year over year.
• The company also raised its quarterly dividend to $0.0875 per share, and analysts currently view the stock as a Moderate Buy with a consensus target price of $90.25.

Fifth Third Bancorp increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 67.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,274 shares of the financial services provider's stock after acquiring an additional 127,903 shares during the period. Fifth Third Bancorp's holdings in Interactive Brokers Group were worth $21,347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IBKR. Reflection Asset Management bought a new position in Interactive Brokers Group in the 4th quarter valued at $26,000. IMA Advisory Services Inc. increased its stake in shares of Interactive Brokers Group by 64.3% in the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock valued at $29,000 after buying an additional 178 shares during the period. Tobam bought a new stake in shares of Interactive Brokers Group during the fourth quarter worth $30,000. Entrust Financial LLC acquired a new position in shares of Interactive Brokers Group during the fourth quarter valued at $31,000. Finally, SHP Wealth Management acquired a new position in shares of Interactive Brokers Group during the fourth quarter valued at $31,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group 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 completion of the sale, the director owned 173,482 shares in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company's stock.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $93.56 on Tuesday. The stock has a market capitalization of $158.71 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 2.60 and a beta of 1.33. The business has a 50-day moving average of $88.70 and a 200-day moving average of $77.78. Interactive Brokers Group, Inc. has a fifty-two week low of $58.18 and a fifty-two week high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. On average, sell-side analysts expect that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were issued a $0.0875 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. Interactive Brokers Group's payout ratio is currently 15.09%.

Analyst Ratings Changes

Several analysts have commented on IBKR shares. Keefe, Bruyette & Woods began coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 target price for the company. Wolfe Research initiated coverage on Interactive Brokers Group in a report on Monday, June 8th. They issued an "outperform" rating and a $101.00 price objective for the company. China Renaissance initiated coverage on Interactive Brokers Group in a research note on Tuesday, July 7th. They issued a "hold" rating on the stock. Weiss Ratings lowered Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, June 29th. Finally, 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 research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.25.

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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