Interactive Brokers Group, Inc. $IBKR Holdings Trimmed by Sowell Financial Services LLC

Key Points

• Sowell Financial Services cut its Interactive Brokers stake by 85.3% in the third quarter, selling 22,912 shares and retaining 3,956 shares valued at about $338,000.
• Interactive Brokers reported quarterly revenue of $1.87 billion, up 15.6% year over year, and EPS of $0.67, matching estimates. It also raised its quarterly dividend to $0.15 per share from $0.0875.
• Analysts’ average rating was “Moderate Buy”, with an average price target of $102.87; the stock opened at $77.46 in the article’s cited session.

Sowell Financial Services LLC reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 85.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,956 shares of the financial services provider's stock after selling 22,912 shares during the quarter. Sowell Financial Services LLC's holdings in Interactive Brokers Group were worth $338,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Evergreen Capital Management LLC lifted its position in Interactive Brokers Group by 1.4% during the 3rd quarter. Evergreen Capital Management LLC now owns 17,927 shares of the financial services provider's stock valued at $1,531,000 after purchasing an additional 255 shares during the period. Wedbush Securities Inc. grew its holdings in Interactive Brokers Group by 14.2% during the 3rd quarter. Wedbush Securities Inc. now owns 3,930 shares of the financial services provider's stock worth $336,000 after acquiring an additional 490 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Interactive Brokers Group by 25.4% in the 3rd quarter. Sterling Capital Management LLC now owns 18,941 shares of the financial services provider's stock valued at $1,618,000 after purchasing an additional 3,840 shares during the period. Yousif Capital Management LLC boosted its position in shares of Interactive Brokers Group by 1.4% in the 3rd quarter. Yousif Capital Management LLC now owns 41,140 shares of the financial services provider's stock worth $3,514,000 after purchasing an additional 578 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in Interactive Brokers Group during the third quarter worth about $127,000. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $77.46 on Wednesday. The stock has a market cap of $131.79 billion, a P/E ratio of 29.79, a P/E/G ratio of 1.22 and a beta of 1.37. The company has a fifty day moving average price of $87.71 and a two-hundred day moving average price of $82.93. Interactive Brokers Group, Inc. has a one year low of $58.95 and a one year high of $98.75.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, October 15th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.67. Interactive Brokers Group had a net margin of 10.03% and a return on equity of 5.38%. The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period in the prior year, the firm earned $0.57 EPS. Interactive Brokers Group's quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 2.69 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.0875. Interactive Brokers Group's dividend payout ratio is 13.46%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. CICC Research boosted their price target on shares of Interactive Brokers Group from $90.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Jefferies Financial Group boosted their price objective on shares of Interactive Brokers Group from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $104.00 price target on Interactive Brokers Group and gave the company a "buy" rating in a research note on Friday, October 16th. Zacks Research cut Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 24th. Finally, Seaport Research Partners raised shares of Interactive Brokers Group to a "buy" rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Interactive Brokers Group has an average rating of "Moderate Buy" and an average price target of $102.87.

Insider Activity

In related news, Director Lawrence Harris sold 25,000 shares of Interactive Brokers Group stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $82.61, for a total transaction of $2,065,250.00. Following the completion of the sale, the director owned 148,482 shares of the company's stock, valued at approximately $12,266,098.02. The trade was a 14.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.80% of the company's stock.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and portfolio management services to individual investors, institutional clients, financial advisers, hedge funds, proprietary trading firms and introducing brokers. Through its subsidiaries, the company offers access to a broad range of markets and financial instruments, including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and certain digital assets.

Interactive Brokers provides its services through platforms such as Trader Workstation, IBKR Mobile and the Client Portal, as well as application programming interfaces for automated and institutional trading.

Want to see what other hedge funds are holding IBKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.