Fullerton Fund Management Co Ltd. Has $316,000 Stock Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Fullerton Fund Management slashed its stake in Interactive Brokers Group by 85.2% in the fourth quarter, ending with 4,919 shares worth about $316,000.
• Interactive Brokers reported Q1 earnings of $0.60 per share, beating estimates, while revenue came in at $1.68 billion and rose 17% year over year.
• The company recently raised its quarterly dividend to $0.0875 per share, and analysts currently view the stock as a Moderate Buy with a consensus price target of $85.22.

Fullerton Fund Management Co Ltd. reduced its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 85.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,919 shares of the financial services provider's stock after selling 28,308 shares during the quarter. Fullerton Fund Management Co Ltd.'s holdings in Interactive Brokers Group were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Interactive Brokers Group by 26.4% during the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock valued at $3,637,234,000 after buying an additional 11,048,679 shares during the last quarter. State Street Corp lifted its position in shares of Interactive Brokers Group by 1.0% during the fourth quarter. State Street Corp now owns 18,836,521 shares of the financial services provider's stock valued at $1,211,377,000 after purchasing an additional 187,763 shares in the last quarter. Cantillon Capital Management LLC lifted its position in shares of Interactive Brokers Group by 0.8% during the fourth quarter. Cantillon Capital Management LLC now owns 12,759,904 shares of the financial services provider's stock valued at $820,589,000 after purchasing an additional 95,878 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Interactive Brokers Group by 17.6% during the third quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider's stock valued at $750,110,000 after purchasing an additional 1,630,620 shares in the last quarter. Finally, Orbis Allan Gray Ltd lifted its position in shares of Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock valued at $539,697,000 after purchasing an additional 6,246,715 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Up 0.4%

IBKR opened at $93.10 on Wednesday. The company has a market capitalization of $157.93 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 2.56 and a beta of 1.32. The firm has a 50-day moving average price of $82.22 and a 200-day moving average price of $73.95. Interactive Brokers Group, Inc. has a twelve month low of $49.30 and a twelve month high of $94.73.

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

Interactive Brokers Group Increases Dividend

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

Insider Buying and Selling at Interactive Brokers Group

In other 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 transaction, the director owned 173,482 shares in the company, valued at $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods assumed 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 price target on the stock. Piper Sandler raised 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. BMO Capital Markets raised their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Barclays raised their price target on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.22.

About Interactive Brokers Group

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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