Interactive Brokers Group, Inc. $IBKR Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its holdings in Interactive Brokers Group by 60% in the 1st quarter, now owning 66,823 shares valued at approximately $11.02 million.
• Several institutional investors, including Private Advisor Group LLC and Kennondale Capital Management LLC, have significantly increased their stakes in Interactive Brokers Group during the same period.
• Research analysts have rated Interactive Brokers Group positively, with a consensus target price increase to $59.38 and several firms issuing "buy" ratings.

Hsbc Holdings PLC cut its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 60.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 66,823 shares of the financial services provider's stock after selling 100,396 shares during the period. Hsbc Holdings PLC's holdings in Interactive Brokers Group were worth $11,015,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IBKR. American Century Companies Inc. raised its holdings in Interactive Brokers Group by 1,476.3% in the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after acquiring an additional 1,343,007 shares during the last quarter. Bank of America Corp DE raised its holdings in Interactive Brokers Group by 91.4% in 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 last quarter. GAMMA Investing LLC raised its holdings in Interactive Brokers Group by 22,211.1% in 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 last quarter. Fullerton Fund Management Co Ltd. acquired a new position in Interactive Brokers Group in the 4th quarter valued at $69,057,000. Finally, Two Sigma Advisers LP raised its holdings in Interactive Brokers Group by 456.0% in the 4th quarter. Two Sigma Advisers LP now owns 465,900 shares of the financial services provider's stock valued at $82,311,000 after acquiring an additional 382,100 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on IBKR. Barclays increased their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Piper Sandler increased their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Citigroup increased their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, The Goldman Sachs Group increased their target price on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Interactive Brokers Group has an average rating of "Moderate Buy" and a consensus target price of $59.38.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the sale, the insider directly owned 461,500 shares in the company, valued at $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 233,972 shares of company stock worth $15,746,449 in the last three months. 2.97% of the stock is owned by company insiders.

Interactive Brokers Group Trading Up 1.6%

NASDAQ:IBKR traded up $0.99 during mid-day trading on Thursday, hitting $62.78. The company had a trading volume of 8,194,671 shares, compared to its average volume of 7,636,069. The business has a fifty day simple moving average of $60.71 and a 200-day simple moving average of $52.00. Interactive Brokers Group, Inc. has a 1 year low of $30.01 and a 1 year high of $68.07. The firm has a market capitalization of $106.48 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.58 and a beta of 1.22.

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 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm's revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted $1.76 earnings per share. As a group, research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date is 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 currently 16.49%.

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.