Interactive Brokers Group, Inc. $IBKR Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Interactive Brokers Group by 11.5%, selling 12,220 shares and holding a total of 94,166 shares valued at approximately $15.6 million.
• Multiple research analysts upgraded their ratings on Interactive Brokers Group, with Barclays increasing their price target from $65.00 to $73.00, indicating strong positive sentiment among analysts.
• The company announced a quarterly dividend of $0.08 per share, representing an annualized yield of 0.5% with a payout ratio of 16.49%.

Gabelli Funds LLC lowered its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 94,166 shares of the financial services provider's stock after selling 12,220 shares during the quarter. Gabelli Funds LLC's holdings in Interactive Brokers Group were worth $15,593,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Private Advisor Group LLC lifted its stake in shares of 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 worth $789,000 after purchasing an additional 3,038 shares during the period. Kennondale Capital Management LLC lifted its stake in shares of Interactive Brokers Group by 172.7% during the 1st quarter. Kennondale Capital Management LLC now owns 19,419 shares of the financial services provider's stock worth $3,216,000 after purchasing an additional 12,299 shares during the period. Bayforest Capital Ltd lifted its stake in shares of Interactive Brokers Group by 33.5% during the 1st quarter. Bayforest Capital Ltd now owns 3,873 shares of the financial services provider's stock worth $641,000 after purchasing an additional 971 shares during the period. National Pension Service purchased a new position in shares of Interactive Brokers Group during the 1st quarter worth $28,688,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Interactive Brokers Group by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 844,793 shares of the financial services provider's stock worth $139,889,000 after purchasing an additional 26,595 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

NASDAQ IBKR traded down $0.54 during trading hours on Monday, hitting $62.24. The company had a trading volume of 6,080,510 shares, compared to its average volume of 9,487,384. Interactive Brokers Group, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $68.07. The company has a market capitalization of $105.57 billion, a price-to-earnings ratio of 32.00, a P/E/G ratio of 2.54 and a beta of 1.23. The firm's 50 day moving average is $61.13 and its 200 day moving average is $52.01.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm earned $1.76 EPS. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

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

Analyst Upgrades and Downgrades

IBKR has been the topic of a number of recent analyst reports. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler upped their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group upped their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Barclays upped their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Citigroup upped their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction 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 this hyperlink. Insiders sold 233,972 shares of company stock worth $15,746,449 in the last three months. 2.97% of the stock is owned by company 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.