Gabelli Funds LLC Sells 15,691 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Gabelli Funds LLC reduced its stake in Interactive Brokers Group by 4.1% in the fourth quarter, selling 15,691 shares and leaving it with 365,040 shares worth about $23.5 million.
• Interactive Brokers beat earnings expectations in its latest quarterly report, posting EPS of $0.60 versus the $0.57 consensus, while revenue rose 17% year over year to $1.68 billion.
• The company increased its quarterly dividend to $0.0875 per share from $0.08, and analysts currently view the stock as a Moderate Buy with a consensus price target of $83.25.

Gabelli Funds LLC trimmed its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,040 shares of the financial services provider's stock after selling 15,691 shares during the period. Gabelli Funds LLC's holdings in Interactive Brokers Group were worth $23,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in Interactive Brokers Group during the 3rd quarter worth about $27,000. Blue Trust Inc. grew its holdings in Interactive Brokers Group by 236.0% during the 4th quarter. Blue Trust Inc. now owns 672 shares of the financial services provider's stock worth $43,000 after acquiring an additional 472 shares in the last quarter. Elyxium Wealth LLC bought a new position in Interactive Brokers Group during the 4th quarter worth about $50,000. Ramsey Quantitative Systems bought a new position in Interactive Brokers Group during the 2nd quarter worth about $44,000. Finally, Darwin Wealth Management LLC bought a new position in Interactive Brokers Group during the 2nd quarter worth about $45,000. 23.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Zacks Research cut shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Barclays increased their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Finally, Piper Sandler increased their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.25.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $86.12 on Tuesday. Interactive Brokers Group, Inc. has a fifty-two week low of $49.15 and a fifty-two week high of $88.44. The stock has a market capitalization of $146.09 billion, a P/E ratio of 37.12, a P/E/G ratio of 2.40 and a beta of 1.32. The company's 50-day simple moving average is $74.25 and its 200-day simple moving average is $71.18.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period last year, the business earned $1.94 EPS. The company's revenue was up 17.0% compared to the same quarter last year. On average, research analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, June 1st will be issued a $0.0875 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. Interactive Brokers Group's dividend payout ratio (DPR) is 15.09%.

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the firm's 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 sale, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company's stock.

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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