Thrive Wealth Management LLC Grows Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Thrive Wealth Management LLC increased its stake in Interactive Brokers Group by 243.8% during the second quarter, bringing its holdings to 8,691 shares worth approximately $482,000.
• Several hedge funds have significantly boosted their investments in Interactive Brokers, including American Century Companies Inc., which increased its position by 1,476.3% in the first quarter, now owning 1,433,981 shares valued at around $237 million.
• CFO Paul Jonathan Brody and Vice Chairman Earl H. Nemser have recently sold a combined total of 291,295 shares of Interactive Brokers stock, indicating a notable decrease in their ownership positions.

Thrive Wealth Management LLC boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 243.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,691 shares of the financial services provider's stock after purchasing an additional 6,163 shares during the quarter. Thrive Wealth Management LLC's holdings in Interactive Brokers Group were worth $482,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Interactive Brokers Group by 2.8% in the first quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider's stock worth $1,714,108,000 after purchasing an additional 280,004 shares during the period. American Century Companies Inc. grew its holdings in Interactive Brokers Group by 1,476.3% in the first quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock worth $237,453,000 after purchasing an additional 1,343,007 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Interactive Brokers Group by 13.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider's stock worth $203,710,000 after purchasing an additional 145,870 shares during the period. Invesco Ltd. grew its holdings in Interactive Brokers Group by 45.6% in the first quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider's stock worth $184,668,000 after purchasing an additional 349,255 shares during the period. Finally, Northern Trust Corp grew its holdings in Interactive Brokers Group by 8.7% in the first quarter. Northern Trust Corp now owns 952,772 shares of the financial services provider's stock worth $157,770,000 after purchasing an additional 76,283 shares during the period. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBKR. Citigroup raised their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler raised their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Barclays raised their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus target price of $59.38.

Insider Buying and Selling

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. The trade was a 29.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of Interactive Brokers Group stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer 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 1,075,018 shares of company stock valued at $68,746,758 over the last quarter. 2.97% of the stock is owned by company insiders.

Interactive Brokers Group Stock Up 0.2%

NASDAQ IBKR traded up $0.11 during trading hours on Friday, reaching $65.03. 8,097,957 shares of the company were exchanged, compared to its average volume of 10,297,098. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $68.07. The business's 50 day simple moving average is $63.27 and its 200-day simple moving average is $52.96. The stock has a market capitalization of $110.30 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.64 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

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

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.