Inspire Investing LLC Sells 16,529 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Inspire Investing LLC reduced its stake in Interactive Brokers Group by 8.6% in the first quarter, selling 16,529 shares and ending with 175,261 shares worth about $11.8 million.
• Several analysts remain constructive on IBKR, with a consensus rating of Moderate Buy and an average price target of $85.22. Recent firms including Wolfe Research, Barclays, and Piper Sandler either initiated or raised targets.
• Interactive Brokers reported Q1 EPS of $0.60, ahead of estimates, and also raised its quarterly dividend to $0.0875 per share, while the stock was trading around $88.20 with a market cap of about $149.6 billion.

Inspire Investing LLC cut its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,261 shares of the financial services provider's stock after selling 16,529 shares during the period. Interactive Brokers Group makes up approximately 1.0% of Inspire Investing LLC's portfolio, making the stock its 11th biggest position. Inspire Investing LLC's holdings in Interactive Brokers Group were worth $11,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brown Miller Wealth Management LLC acquired a new stake in Interactive Brokers Group during the first quarter worth approximately $333,000. Apollon Wealth Management LLC lifted its stake in Interactive Brokers Group by 22.0% in the first quarter. Apollon Wealth Management LLC now owns 6,240 shares of the financial services provider's stock valued at $419,000 after buying an additional 1,125 shares during the period. Patton Fund Management Inc. lifted its stake in Interactive Brokers Group by 8.8% in the first quarter. Patton Fund Management Inc. now owns 3,683 shares of the financial services provider's stock valued at $247,000 after buying an additional 298 shares during the period. Value Partners Investments Inc. boosted its holdings in shares of Interactive Brokers Group by 6.9% during the 1st quarter. Value Partners Investments Inc. now owns 44,793 shares of the financial services provider's stock worth $3,001,000 after buying an additional 2,889 shares in the last quarter. Finally, Maridea Wealth Management LLC boosted its holdings in shares of Interactive Brokers Group by 54.6% during the 1st quarter. Maridea Wealth Management LLC now owns 8,733 shares of the financial services provider's stock worth $586,000 after buying an additional 3,083 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on IBKR shares. Wolfe Research started coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They set an "outperform" rating and a $101.00 price objective for the company. Keefe, Bruyette & Woods started coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They set a "market perform" rating and a $75.00 target price on the stock. Barclays raised their price target on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research note on Friday, May 1st. Finally, Piper Sandler upped their price objective on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Interactive Brokers Group has a consensus rating of "Moderate Buy" and an average target price of $85.22.

Interactive Brokers Group Stock Down 1.8%

Shares of NASDAQ:IBKR opened at $88.20 on Tuesday. Interactive Brokers Group, Inc. has a twelve month low of $53.14 and a twelve month high of $97.84. The stock's 50 day moving average is $85.80 and its 200-day moving average is $75.77. The firm has a market capitalization of $149.62 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.48 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period last year, the business earned $1.94 EPS. Interactive Brokers Group's quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

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

Insider Activity

In other news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction dated 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 completion of the transaction, the director directly owned 173,482 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Interactive Brokers Group Company Profile

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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