Interactive Brokers Group, Inc. $IBKR Shares Acquired by Bartlett & CO. Wealth Management LLC

Key Points

• Bartlett & CO. Wealth Management LLC increased its stake in Interactive Brokers Group by 300%, owning 8,000 shares valued at $443,000, after purchasing an additional 6,000 shares in the second quarter.
• Insider selling was noted, with Vice Chairman Earl H. Nemser selling 194,086 shares for over $13 million, representing a 29.60% decrease in his position.
• Interactive Brokers Group reported a 14.7% year-over-year revenue increase in Q2, with earnings of $0.51 per share, exceeding estimates and contributing to a current dividend yield of 0.5%.

Bartlett & CO. Wealth Management LLC raised its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 300.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,000 shares of the financial services provider's stock after purchasing an additional 6,000 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in Interactive Brokers Group were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of IBKR. Compound Planning Inc. increased its holdings in Interactive Brokers Group by 1.1% in the first quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider's stock valued at $958,000 after buying an additional 62 shares during the last quarter. CWM LLC increased its holdings in shares of Interactive Brokers Group by 6.6% in the 1st quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock valued at $176,000 after acquiring an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Interactive Brokers Group by 0.8% in the first quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock worth $1,410,000 after purchasing an additional 70 shares during the period. USS Investment Management Ltd increased its stake in Interactive Brokers Group by 0.4% during the first quarter. USS Investment Management Ltd now owns 20,161 shares of the financial services provider's stock valued at $3,339,000 after purchasing an additional 76 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in Interactive Brokers Group by 4.1% during the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction dated 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 transaction, the insider owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the sale, the chief financial officer directly owned 158,954 shares of the company's stock, valued at $10,289,092.42. This represents a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,205,683 shares of company stock worth $77,217,965 over the last 90 days. Insiders own 2.97% of the company's stock.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $70.95 on Friday. The firm's 50 day moving average is $64.24 and its 200-day moving average is $54.37. Interactive Brokers Group, Inc. has a 12-month low of $32.82 and a 12-month high of $71.63. The stock has a market capitalization of $120.34 billion, a P/E ratio of 36.48, a P/E/G ratio of 2.80 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business's quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 earnings per share. As a group, equities research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays lifted their price target 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. Citigroup raised their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Piper Sandler upped their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Interactive Brokers Group presently 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.

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