Greenwich Wealth Management LLC Reduces Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Greenwich Wealth Management cut its stake in Interactive Brokers Group by 11.4% in the fourth quarter, but the stock still remains its largest position, making up about 26.3% of its holdings.
• Analyst sentiment is mixed but still generally positive: several firms raised price targets recently, and the stock now has a Moderate Buy consensus with an average target price of $83.25.
• Interactive Brokers reported quarterly earnings of $0.60 per share, beating estimates, and also raised its quarterly dividend to $0.0875 per share from $0.08.

Greenwich Wealth Management LLC lessened its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,185,108 shares of the financial services provider's stock after selling 1,182,168 shares during the period. Interactive Brokers Group comprises about 26.3% of Greenwich Wealth Management LLC's holdings, making the stock its biggest position. Greenwich Wealth Management LLC owned about 0.54% of Interactive Brokers Group worth $590,694,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in Interactive Brokers Group during the third quarter worth about $27,000. Entrust Financial LLC purchased a new stake in Interactive Brokers Group during the fourth quarter worth about $31,000. Tucker Asset Management LLC purchased a new stake in Interactive Brokers Group during the fourth quarter worth about $32,000. Lloyd Advisory Services LLC. purchased a new stake in Interactive Brokers Group during the fourth quarter worth about $33,000. Finally, Blue Trust Inc. increased its holdings in Interactive Brokers Group by 236.0% during the fourth quarter. Blue Trust Inc. now owns 672 shares of the financial services provider's stock worth $43,000 after buying an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Piper Sandler raised their price objective 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. Barclays raised their price objective 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. Jefferies Financial Group reduced their target price on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Finally, The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research note on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $83.25.

Insider Buying and Selling

In related news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the transaction, the director owned 173,482 shares of the company's stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company's stock.

Interactive Brokers Group Stock Up 0.0%

IBKR opened at $88.72 on Wednesday. The company has a market capitalization of $150.50 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 2.45 and a beta of 1.32. The firm has a 50-day moving average price of $77.44 and a 200-day moving average price of $72.10. Interactive Brokers Group, Inc. has a twelve month low of $49.15 and a twelve month high of $91.02.

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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be paid a dividend of $0.0875 per share. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend 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 presently 15.09%.

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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