Fifth Third Bancorp Purchases 76,618 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Fifth Third Bancorp increased its stake in Interactive Brokers Group, Inc. by 113.0%, acquiring an additional 76,618 shares during Q2, bringing their total to 144,433 shares valued at $8,003,000.
• Multiple institutional investors, including Goldman Sachs and Thrive Wealth Management, have significantly increased their holdings in Interactive Brokers, indicating strong institutional interest in the stock.
• Interactive Brokers reported a Q2 earnings per share of $0.51, surpassing estimates, with revenue up by 14.7% year-over-year, further solidifying its positive market outlook.

Fifth Third Bancorp increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 113.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 144,433 shares of the financial services provider's stock after buying an additional 76,618 shares during the quarter. Fifth Third Bancorp's holdings in Interactive Brokers Group were worth $8,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IBKR. Goldman Sachs Group Inc. increased its stake in Interactive Brokers Group by 50.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider's stock worth $98,886,000 after purchasing an additional 199,467 shares in the last quarter. Thrive Wealth Management LLC increased its position in shares of Interactive Brokers Group by 243.8% during the second quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider's stock worth $482,000 after acquiring an additional 6,163 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Interactive Brokers Group by 19.5% during the first quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider's stock worth $7,839,000 after acquiring an additional 7,734 shares during the period. First Hawaiian Bank boosted its stake in Interactive Brokers Group by 334.1% in the 1st quarter. First Hawaiian Bank now owns 7,557 shares of the financial services provider's stock worth $1,251,000 after purchasing an additional 5,816 shares during the period. Finally, Brady Martz Wealth Solutions LLC increased its holdings in Interactive Brokers Group by 300.0% during the 2nd quarter. Brady Martz Wealth Solutions LLC now owns 7,164 shares of the financial services provider's stock worth $397,000 after purchasing an additional 5,373 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Up 0.8%

NASDAQ:IBKR opened at $64.97 on Friday. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $68.07. The firm has a market capitalization of $110.20 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 2.62 and a beta of 1.23. The stock's 50 day moving average price is $63.69 and its two-hundred day moving average price is $53.46.

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

Interactive Brokers Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IBKR. Citigroup upped their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Piper Sandler raised their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays boosted their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group currently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Insider Activity

In related news, CFO Paul Jonathan Brody sold 14,391 shares of the firm's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $64.81, for a total value of $932,680.71. Following the completion of the sale, the chief financial officer directly owned 59,643 shares in the company, valued at approximately $3,865,462.83. This trade represents a 19.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 1,174,329 shares of company stock valued at $75,169,366. 2.97% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Company Profile

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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