Global Retirement Partners LLC Buys 24,867 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Global Retirement Partners LLC boosted its stake in Interactive Brokers Group by 172.9% in the fourth quarter, buying 24,867 additional shares and bringing its total holding to 39,251 shares worth about $2.52 million.
• Institutional interest remained strong, with several other hedge funds adding to positions and institutional ownership reaching 23.8% of the stock. Meanwhile, Director Lawrence E. Harris sold 26,000 shares in a transaction valued at about $2.0 million.
• Interactive Brokers reported earnings of $0.60 per share, topping estimates, and revenue rose 17% year over year. The company also raised its quarterly dividend to $0.0875 per share and received mostly positive analyst coverage, with an average rating of Moderate Buy.

Global Retirement Partners LLC grew its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 172.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,251 shares of the financial services provider's stock after acquiring an additional 24,867 shares during the quarter. Global Retirement Partners LLC's holdings in Interactive Brokers Group were worth $2,524,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IBKR. Leonteq Securities AG bought a new position in shares of Interactive Brokers Group during the fourth quarter valued at $1,746,000. Investment House LLC lifted its holdings in shares of Interactive Brokers Group by 5.2% during the fourth quarter. Investment House LLC now owns 64,913 shares of the financial services provider's stock valued at $4,175,000 after purchasing an additional 3,227 shares in the last quarter. Forefront Wealth Partners LLC lifted its holdings in shares of Interactive Brokers Group by 2.1% during the fourth quarter. Forefront Wealth Partners LLC now owns 8,175 shares of the financial services provider's stock valued at $526,000 after purchasing an additional 169 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Interactive Brokers Group by 5.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 46,298 shares of the financial services provider's stock valued at $2,977,000 after purchasing an additional 2,519 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Interactive Brokers Group by 34.3% during the fourth quarter. Handelsbanken Fonder AB now owns 116,374 shares of the financial services provider's stock valued at $7,484,000 after purchasing an additional 29,696 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the transaction, the director owned 173,482 shares of the company's stock, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company's stock.

Interactive Brokers Group Stock Performance

IBKR stock opened at $81.35 on Friday. Interactive Brokers Group, Inc. has a fifty-two week low of $49.15 and a fifty-two week high of $88.44. The business's 50-day moving average is $75.48 and its two-hundred day moving average is $71.55. The company has a market cap of $138.00 billion, a price-to-earnings ratio of 35.06, a P/E/G ratio of 2.25 and a beta of 1.32.

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, beating analysts' consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company earned $1.94 earnings per share. Interactive Brokers Group's revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be issued a $0.0875 dividend. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. Interactive Brokers Group's dividend payout ratio is currently 13.79%.

Analysts Set New Price Targets

IBKR has been the topic of a number of research analyst reports. Piper Sandler upped their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price target on the stock. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a report on Friday, May 1st. Finally, BMO Capital Markets upped their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Interactive Brokers Group currently has an average rating of "Moderate Buy" and an average target price of $83.25.

Interactive Brokers Group Profile

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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