Sowell Financial Services LLC Purchases 30,181 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Sowell Financial Services LLC increased its holdings in Interactive Brokers Group by 292.7% during the second quarter, now owning 40,491 shares valued at $2.24 million.
• Insider sales included Vice Chairman Earl H. Nemser selling 194,086 shares for over $13 million, reducing his position by 29.6%.
• Analysts remain optimistic, with Piper Sandler raising the price target for Interactive Brokers Group from $45.50 to $65.00 and maintaining an "overweight" rating.

Sowell Financial Services LLC raised its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 292.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,491 shares of the financial services provider's stock after purchasing an additional 30,181 shares during the period. Sowell Financial Services LLC's holdings in Interactive Brokers Group were worth $2,244,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Interactive Brokers Group by 50.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046 shares of the financial services provider's stock valued at $186,000 after acquiring an additional 350 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Interactive Brokers Group by 13.4% during the 4th quarter. Quantinno Capital Management LP now owns 3,591 shares of the financial services provider's stock worth $634,000 after acquiring an additional 424 shares in the last quarter. Vident Advisory LLC raised its stake in Interactive Brokers Group by 108.6% during the 4th quarter. Vident Advisory LLC now owns 3,741 shares of the financial services provider's stock worth $661,000 after acquiring an additional 1,948 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Interactive Brokers Group by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 306,854 shares of the financial services provider's stock valued at $54,212,000 after acquiring an additional 44,654 shares during the period. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Interactive Brokers Group during the fourth quarter worth about $341,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 transaction of $13,098,864.14. Following the sale, the insider directly owned 461,500 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the transaction, the chief financial officer owned 158,954 shares of the company's stock, valued at $10,289,092.42. The trade was a 42.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,075,018 shares of company stock worth $68,746,758 in the last 90 days. 2.97% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup boosted their target price on shares of 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 upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Barclays boosted their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Piper Sandler increased their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Price Performance

NASDAQ:IBKR traded down $0.81 during mid-day trading on Monday, reaching $64.22. The stock had a trading volume of 4,775,825 shares, compared to its average volume of 10,508,868. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $68.07. The stock has a market cap of $108.93 billion, a P/E ratio of 33.02, a PEG ratio of 2.65 and a beta of 1.23. The business's 50 day moving average is $63.37 and its 200 day moving average is $53.14.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. The company'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 year.

Interactive Brokers Group Announces Dividend

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

About Interactive Brokers Group

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.