Heartland Advisors Inc. Sells 4,623 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Heartland Advisors Inc. has significantly reduced its stake in Interactive Brokers Group, lowering its position by 41.6% to 6,488 shares, valued at approximately $1,074,000.
• Several large investors have increased their stakes in the company, with American Century Companies Inc. raising its position by 40.5%, now owning 90,974 shares valued at $16,072,000.
• Interactive Brokers Group reported earnings of $0.51 per share, surpassing analysts' estimates, with a 14.7% year-over-year revenue increase to $1.48 billion.

Heartland Advisors Inc. cut its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 41.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,488 shares of the financial services provider's stock after selling 4,623 shares during the quarter. Heartland Advisors Inc.'s holdings in Interactive Brokers Group were worth $1,074,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IBKR. Wellington Management Group LLP grew its stake in shares of Interactive Brokers Group by 8,249.3% during the 4th quarter. Wellington Management Group LLP now owns 1,494,029 shares of the financial services provider's stock valued at $263,950,000 after acquiring an additional 1,476,135 shares during the period. Norges Bank bought a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $229,316,000. Bank of America Corp DE grew its stake in shares of Interactive Brokers Group by 91.4% during the 4th quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock valued at $413,226,000 after acquiring an additional 1,117,186 shares during the period. GAMMA Investing LLC grew its stake in shares of Interactive Brokers Group by 22,211.1% during the 1st quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock valued at $701,950,000 after acquiring an additional 422,010 shares during the period. Finally, Fullerton Fund Management Co Ltd. bought a new position in Interactive Brokers Group in the 4th quarter worth approximately $69,057,000. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Trading Up 1.5%

NASDAQ:IBKR traded up $1.01 during midday trading on Wednesday, hitting $66.21. 1,067,320 shares of the company traded hands, compared to its average volume of 7,369,684. The firm's fifty day moving average is $55.62 and its 200-day moving average is $50.23. Interactive Brokers Group, Inc. has a 12-month low of $25.92 and a 12-month high of $66.82. The firm has a market capitalization of $111.92 billion, a P/E ratio of 34.06, a P/E/G ratio of 2.70 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share 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 company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm posted $1.76 EPS. Interactive Brokers Group's quarterly revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be paid a $0.08 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. Interactive Brokers Group's payout ratio is 16.49%.

Analysts Set New Price Targets

Several research firms have weighed in on IBKR. Barclays upped their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Citigroup upped their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. The Goldman Sachs Group upped their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Bank of America dropped their price target on Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus target price of $59.38.

About Interactive Brokers Group

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.