Hsbc Holdings PLC Sells 270,264 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• HSBC Holdings PLC reduced its stake in Interactive Brokers Group by 24.1% in the first quarter, selling 270,264 shares and leaving it with 850,275 shares worth about $56.8 million.
• Analyst sentiment remains constructive, with several firms issuing buy/overweight calls and the consensus rating at “Moderate Buy.” The average price target stands at $93.89.
• Interactive Brokers reported solid quarterly results, topping EPS expectations at $0.60 and raising its quarterly dividend to $0.0875 per share, up from $0.08 previously.

Hsbc Holdings PLC decreased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 850,275 shares of the financial services provider's stock after selling 270,264 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Interactive Brokers Group worth $56,791,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IBKR. Reflection Asset Management acquired a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $26,000. IMA Advisory Services Inc. increased its holdings in Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 178 shares in the last quarter. Tobam bought a new position in Interactive Brokers Group in the 4th quarter valued at $30,000. Entrust Financial LLC acquired a new position in Interactive Brokers Group in the fourth quarter worth $31,000. Finally, SHP Wealth Management bought a new stake in shares of Interactive Brokers Group during the fourth quarter worth $31,000. Institutional investors and hedge funds own 23.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IBKR shares. Bank of America lifted their price target on Interactive Brokers Group from $83.00 to $106.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Jefferies Financial Group dropped 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. China Renaissance began coverage on shares of Interactive Brokers Group in a research report on Tuesday, July 7th. They set a "hold" rating on the stock. Piper Sandler set a $105.00 price target on shares of Interactive Brokers Group and gave the company an "overweight" rating in a research note on Wednesday. Finally, Wolfe Research started coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They issued an "outperform" rating and a $101.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.89.

Insiders Place Their Bets

In other news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction 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 transaction, the director directly owned 173,482 shares of the company's stock, valued at $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.80% of the company's stock.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock opened at $90.53 on Monday. The firm has a fifty day moving average of $89.43 and a two-hundred day moving average of $78.57. The stock has a market capitalization of $153.57 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 2.07 and a beta of 1.33. Interactive Brokers Group, Inc. has a 52 week low of $58.95 and a 52 week high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.94 earnings per share. As a group, research analysts forecast that Interactive Brokers Group, Inc. will post 2.55 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were paid a $0.0875 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's payout ratio is currently 15.09%.

About Interactive Brokers Group

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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