Intech Investment Management LLC Acquires 88,136 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Intech Investment Management LLC increased its stake in Interactive Brokers Group by 176.2%, owning 138,146 shares worth approximately $22.88 million at the end of the first quarter.
• Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers, representing a 29.6% decrease in his ownership, with total sales amounting to over $13 million.
• The company recently announced a quarterly dividend of $0.08 per share, translating to an annualized dividend yield of 0.5%.

Intech Investment Management LLC raised its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 176.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,146 shares of the financial services provider's stock after purchasing an additional 88,136 shares during the quarter. Intech Investment Management LLC's holdings in Interactive Brokers Group were worth $22,876,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Bayforest Capital Ltd raised its position in Interactive Brokers Group by 33.5% in the 1st quarter. Bayforest Capital Ltd now owns 3,873 shares of the financial services provider's stock valued at $641,000 after purchasing an additional 971 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Interactive Brokers Group by 38.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 424,970 shares of the financial services provider's stock valued at $70,371,000 after purchasing an additional 118,116 shares during the last quarter. Empowered Funds LLC raised its position in Interactive Brokers Group by 3.0% in the 1st quarter. Empowered Funds LLC now owns 39,131 shares of the financial services provider's stock valued at $6,480,000 after purchasing an additional 1,156 shares during the last quarter. United Services Automobile Association bought a new position in Interactive Brokers Group in the 1st quarter valued at $1,167,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Interactive Brokers Group by 54.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,103 shares of the financial services provider's stock valued at $679,000 after purchasing an additional 1,446 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR traded up $0.36 during midday trading on Friday, hitting $63.70. The stock had a trading volume of 3,395,904 shares, compared to its average volume of 10,073,987. The company's 50-day simple moving average is $62.73 and its 200 day simple moving average is $52.52. The firm has a market cap of $108.04 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 2.58 and a beta of 1.23. Interactive Brokers Group, Inc. has a fifty-two week low of $31.07 and a fifty-two week 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 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Paul Jonathan Brody sold 104,906 shares of Interactive Brokers Group stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $62.51, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the sale, the insider directly owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 446,371 shares of company stock valued at $28,954,715. 2.97% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on IBKR shares. Citigroup lifted their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Piper Sandler lifted their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group lifted their target price on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Barclays lifted their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.38.

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.