First Hawaiian Bank Purchases 5,816 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• First Hawaiian Bank significantly raised its holdings in Interactive Brokers Group, acquiring an additional 5,816 shares and increasing its ownership by 334.1%, with their total stake valued at $1,251,000.
• Insider trading activity included Vice Chairman Earl H. Nemser selling 194,086 shares, resulting in a 29.60% decrease of their ownership in the stock, and CFO Paul Jonathan Brody selling 107,493 shares, marking a 10.75% ownership decrease.
• Interactive Brokers Group reported a 14.7% increase in year-over-year revenue, totaling $1.48 billion, and had earnings per share of $0.51, exceeding analysts' estimates.

First Hawaiian Bank raised its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 334.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,557 shares of the financial services provider's stock after buying an additional 5,816 shares during the period. First Hawaiian Bank's holdings in Interactive Brokers Group were worth $1,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Interactive Brokers Group by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider's stock valued at $1,714,108,000 after acquiring an additional 280,004 shares during the period. American Century Companies Inc. boosted its stake in shares of Interactive Brokers Group by 1,476.3% during the first quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after purchasing an additional 1,343,007 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Interactive Brokers Group by 13.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider's stock worth $203,710,000 after purchasing an additional 145,870 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Interactive Brokers Group by 45.6% in the first quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider's stock worth $184,668,000 after purchasing an additional 349,255 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Interactive Brokers Group by 8.7% in the 1st quarter. Northern Trust Corp now owns 952,772 shares of the financial services provider's stock worth $157,770,000 after buying an additional 76,283 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the sale, the insider directly owned 461,500 shares in the company, valued at $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Jonathan Brody sold 107,493 shares of Interactive Brokers Group stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $61.87, for a total transaction of $6,650,591.91. Following the completion of the transaction, the chief financial officer directly owned 892,507 shares in the company, valued at $55,219,408.09. This represents a 10.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 446,371 shares of company stock valued at $28,954,715 over the last quarter. 2.97% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Stock Up 0.6%

Shares of IBKR stock opened at $63.70 on Friday. The firm has a market cap of $108.04 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 2.58 and a beta of 1.23. Interactive Brokers Group, Inc. has a 52-week low of $31.07 and a 52-week high of $68.07. The company's 50 day moving average is $62.73 and its 200 day moving average is $52.53.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share 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 analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. Interactive Brokers Group's revenue was up 14.7% on a year-over-year basis. Analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

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

Wall Street Analyst Weigh In

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

Interactive Brokers Group 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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