HB Wealth Management LLC Grows Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• HB Wealth Management LLC significantly increased its holdings in Interactive Brokers Group, Inc. by 350.6% during Q2, acquiring a total of 10,004 shares valued at $554,000.
• In a recent transaction, CFO Paul Jonathan Brody sold 17,058 shares at an average price of $65.78, reducing his ownership by 37.62%.
• Interactive Brokers Group reported Q2 earnings of $0.51 EPS, exceeding expectations, with a revenue of $1.48 billion, marking a 14.7% year-over-year increase.

HB Wealth Management LLC lifted its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 350.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,004 shares of the financial services provider's stock after buying an additional 7,784 shares during the quarter. HB Wealth Management LLC's holdings in Interactive Brokers Group were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Compound Planning Inc. grew its position in shares of Interactive Brokers Group by 1.1% in the 1st quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider's stock worth $958,000 after buying an additional 62 shares during the period. CWM LLC grew its position in Interactive Brokers Group by 6.6% during the 1st quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock valued at $176,000 after purchasing an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Interactive Brokers Group by 0.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock valued at $1,410,000 after purchasing an additional 70 shares during the last quarter. USS Investment Management Ltd grew its position in Interactive Brokers Group by 0.4% during the 1st quarter. USS Investment Management Ltd now owns 20,161 shares of the financial services provider's stock valued at $3,339,000 after purchasing an additional 76 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in Interactive Brokers Group by 4.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 79 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Paul Jonathan Brody sold 17,058 shares of Interactive Brokers Group stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the sale, the chief financial officer owned 28,289 shares in the company, valued at $1,860,850.42. This trade represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 1,205,683 shares of company stock worth $77,217,965 in the last quarter. Company insiders own 2.97% of the company's stock.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $70.36 on Friday. The stock has a market cap of $119.34 billion, a P/E ratio of 36.17, a PEG ratio of 2.89 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $71.78. The firm's 50 day moving average price is $64.33 and its 200-day moving average price is $54.63.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The company's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 earnings per share. As a group, equities analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were given a dividend of $0.08 per share. The ex-dividend date was 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 presently 16.49%.

Analyst Ratings Changes

IBKR has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Barclays increased their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Zacks Research downgraded shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Weiss Ratings reissued a "hold (c+)" rating on shares of Interactive Brokers Group in a research report on Saturday, September 27th. Finally, Piper Sandler increased their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.47.

Interactive Brokers Group 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.

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