HighTower Advisors LLC Trims Stock Position in Interactive Brokers Group, Inc. $IBKR

Key Points

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HighTower Advisors LLC cut its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,825 shares of the financial services provider's stock after selling 8,257 shares during the quarter. HighTower Advisors LLC's holdings in Interactive Brokers Group were worth $8,416,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IBKR. N.E.W. Advisory Services LLC bought a new position in shares of Interactive Brokers Group in the first quarter valued at $26,000. City Holding Co. bought a new position in shares of Interactive Brokers Group in the first quarter valued at $33,000. Nvwm LLC bought a new position in shares of Interactive Brokers Group in the first quarter valued at $33,000. ASR Vermogensbeheer N.V. bought a new position in shares of Interactive Brokers Group in the first quarter valued at $33,000. Finally, Bellwether Advisors LLC bought a new position in shares of Interactive Brokers Group in the fourth quarter valued at $35,000. 23.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. The Goldman Sachs Group raised their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Citigroup raised 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 note on Monday, July 7th. Piper Sandler increased their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays increased their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.38.

Interactive Brokers Group Stock Down 0.1%

NASDAQ IBKR traded down $0.07 during trading hours on Friday, reaching $62.40. 3,860,323 shares of the company were exchanged, compared to its average volume of 4,223,272. The stock has a market capitalization of $105.84 billion, a P/E ratio of 32.08, a P/E/G ratio of 2.54 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $30.01 and a 1 year high of $68.07. The business's 50 day simple moving average is $60.10 and its 200-day simple moving average is $51.90.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the firm earned $1.76 EPS. The company's revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Interactive Brokers Group's dividend payout ratio is currently 16.49%.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the transaction, the insider directly owned 461,500 shares of the company's stock, valued at $31,146,635. This represents a 29.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 233,972 shares of company stock worth $15,746,449. 2.97% of the stock is owned by corporate insiders.

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.