Insight Wealth Strategies LLC Purchases 31,794 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Insight Wealth Strategies LLC increased its holdings of Interactive Brokers Group by 219.6% during the second quarter, acquiring an additional 31,794 shares, bringing its total to 46,273 shares worth approximately $2.6 million.
• Insider transactions revealed that CFO Paul Jonathan Brody sold 104,906 shares for over $6.5 million, while Vice Chairman Earl H. Nemser sold 194,086 shares for approximately $13.1 million, indicating a notable reduction in their ownership positions.
• Analysts have recently set new price targets for Interactive Brokers, raising them to as high as $73.00 and maintaining a consensus rating of "Moderate Buy" with a target price of approximately $59.38.

Insight Wealth Strategies LLC increased its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 219.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,273 shares of the financial services provider's stock after acquiring an additional 31,794 shares during the period. Insight Wealth Strategies LLC's holdings in Interactive Brokers Group were worth $2,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBKR. Fiduciary Financial Group LLC acquired a new position in Interactive Brokers Group during the 2nd quarter worth about $216,000. AG2R LA Mondiale Gestion D Actifs acquired a new position in Interactive Brokers Group during the 1st quarter worth about $832,000. Swedbank AB acquired a new position in Interactive Brokers Group during the 1st quarter worth about $1,411,000. First Hawaiian Bank lifted its holdings in Interactive Brokers Group by 334.1% during the 1st quarter. First Hawaiian Bank now owns 7,557 shares of the financial services provider's stock worth $1,251,000 after buying an additional 5,816 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Interactive Brokers Group by 19.5% during the 1st quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider's stock worth $7,839,000 after buying an additional 7,734 shares during the period. Institutional investors own 23.80% of the company's stock.

Insider Transactions at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 104,906 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $62.51, for a total value of $6,557,674.06. Following the completion of the sale, the chief financial officer directly owned 787,601 shares of the company's stock, valued at $49,232,938.51. The trade was a 11.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the sale, the insider directly owned 461,500 shares of the company's stock, valued at $31,146,635. The trade was a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 446,371 shares of company stock valued at $28,954,715 over the last ninety days. 2.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IBKR has been the topic of several recent research reports. Piper Sandler lifted their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Citigroup lifted their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Barclays lifted their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Interactive Brokers Group currently has an average rating of "Moderate Buy" and a consensus target price of $59.38.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $63.70 on Friday. The company has a market capitalization of $108.04 billion, a price-to-earnings ratio of 32.75, a P/E/G ratio of 2.58 and a beta of 1.23. The business's 50-day moving average is $62.73 and its 200-day moving average is $52.53. Interactive Brokers Group, Inc. has a 1 year low of $31.07 and a 1 year high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.76 EPS. Analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

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

Interactive Brokers Group Company 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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