Freedom Day Solutions LLC Has $3.20 Million Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Freedom Day Solutions LLC significantly increased its stake in Interactive Brokers Group, Inc. by 294.4% during the second quarter, now holding shares worth approximately $3.20 million.
• Multiple large investors, including Goldman Sachs and Thrive Wealth Management, have also increased their holdings, indicating growing institutional interest in the company.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $65.47, reflecting optimistic growth expectations.

Freedom Day Solutions LLC lifted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 294.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,797 shares of the financial services provider's stock after buying an additional 43,143 shares during the period. Interactive Brokers Group comprises 0.8% of Freedom Day Solutions LLC's holdings, making the stock its 24th largest position. Freedom Day Solutions LLC's holdings in Interactive Brokers Group were worth $3,203,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of 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 buying an additional 199,467 shares during the last quarter. Thrive Wealth Management LLC boosted its stake in shares of Interactive Brokers Group by 243.8% during the 2nd quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider's stock worth $482,000 after buying an additional 6,163 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Interactive Brokers Group by 1,093.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider's stock worth $409,000 after buying an additional 6,760 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Interactive Brokers Group by 237.8% during the 2nd quarter. Truist Financial Corp now owns 202,665 shares of the financial services provider's stock worth $11,230,000 after buying an additional 142,662 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of 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 worth $7,839,000 after buying an additional 7,734 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,205,683 shares of company stock worth $77,217,965. Insiders own 2.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup increased their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Piper Sandler raised their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. Barclays reiterated an "overweight" rating and issued a $81.00 target price (up from $73.00) on shares of Interactive Brokers Group in a research note on Wednesday. Finally, Zacks Research downgraded shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.47.

Interactive Brokers Group Stock Up 0.8%

Interactive Brokers Group stock opened at $72.62 on Friday. The stock has a market cap of $123.17 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.96 and a beta of 1.22. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $72.71. The company's 50-day moving average price is $64.76 and its two-hundred day moving average price is $55.30.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly 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 firm had revenue of $1.48 billion for 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 business's revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 EPS. Equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 29th. Interactive Brokers Group's dividend payout ratio is currently 16.49%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.