Fragasso Financial Advisors Inc Purchases 23,214 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Fragasso Financial Advisors Inc significantly increased its holdings in Interactive Brokers Group, raising its position by 338.5% to own 30,072 shares worth approximately $1.67 million as of its latest SEC filing.
• Several institutional investors, including Vanguard Group and American Century Companies Inc, have also boosted their stakes in Interactive Brokers Group, highlighting strong institutional interest in the company.
• Interactive Brokers Group recently declared a quarterly dividend of $0.08 per share, with a yield of 0.5%, alongside positive earnings results that exceeded analyst estimates.

Fragasso Financial Advisors Inc increased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 338.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,072 shares of the financial services provider's stock after buying an additional 23,214 shares during the period. Fragasso Financial Advisors Inc's holdings in Interactive Brokers Group were worth $1,666,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IBKR. Goldman Sachs Group Inc. boosted 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 valued at $98,886,000 after purchasing an additional 199,467 shares during the last quarter. Inspire Investing LLC boosted its stake in Interactive Brokers Group by 19.5% during the 1st quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider's stock valued at $7,839,000 after purchasing an additional 7,734 shares during the last quarter. First Hawaiian Bank boosted its stake in Interactive Brokers Group by 334.1% during the 1st quarter. First Hawaiian Bank now owns 7,557 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 5,816 shares during the last quarter. Private Advisor Group LLC boosted its stake in Interactive Brokers Group by 176.2% during the 1st quarter. Private Advisor Group LLC now owns 4,762 shares of the financial services provider's stock valued at $789,000 after purchasing an additional 3,038 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Interactive Brokers Group by 271.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 15,989 shares of the financial services provider's stock valued at $2,648,000 after purchasing an additional 11,688 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Performance

IBKR stock traded up $2.58 during midday trading on Thursday, reaching $64.92. 6,259,116 shares of the company's stock traded hands, compared to its average volume of 7,471,271. The company has a 50-day moving average price of $63.03 and a two-hundred day moving average price of $52.75. Interactive Brokers Group, Inc. has a 52 week low of $32.65 and a 52 week high of $68.07. The firm has a market capitalization of $110.11 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 2.54 and a beta of 1.23.

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

Interactive Brokers Group Dividend Announcement

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

Insider Buying and Selling at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction 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 transaction, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. The trade was 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 accessible through the SEC website. Also, CFO Paul Jonathan Brody sold 112,574 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $63.23, for a total transaction of $7,118,054.02. Following the completion of the transaction, the chief financial officer owned 675,027 shares of the company's stock, valued at $42,681,957.21. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 656,154 shares of company stock valued at $42,299,977 over the last quarter. 2.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IBKR shares. Piper Sandler lifted their price target 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. Barclays lifted their target price 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. Citigroup lifted their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. 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 investment 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 company currently 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.