Northern Trust Corp Buys 76,283 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Northern Trust Corp has increased its ownership in Interactive Brokers Group, acquiring an additional 76,283 shares, bringing its total to approximately 952,772 shares valued at $157.77 million.
• Interactive Brokers Group reported earnings of $0.51 per share for the latest quarter, exceeding analysts' estimates, with revenue climbing to $1.48 billion, a 14.7% increase year-over-year.
• The company declared a quarterly dividend of $0.08 per share, with a dividend yield of 0.5%, set to be paid on September 12th.

Northern Trust Corp boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 952,772 shares of the financial services provider's stock after buying an additional 76,283 shares during the period. Northern Trust Corp owned 0.23% of Interactive Brokers Group worth $157,770,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mariner LLC lifted its stake in shares of Interactive Brokers Group by 7.0% in the 4th quarter. Mariner LLC now owns 6,426 shares of the financial services provider's stock valued at $1,135,000 after purchasing an additional 418 shares during the period. NewEdge Advisors LLC raised its holdings in Interactive Brokers Group by 115.5% in the fourth quarter. NewEdge Advisors LLC now owns 2,967 shares of the financial services provider's stock worth $524,000 after purchasing an additional 1,590 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Interactive Brokers Group by 132.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,820 shares of the financial services provider's stock valued at $1,028,000 after buying an additional 3,314 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Interactive Brokers Group by 30.3% during the 4th quarter. Pinebridge Investments L.P. now owns 44,610 shares of the financial services provider's stock valued at $7,881,000 after buying an additional 10,373 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Interactive Brokers Group by 10.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 65,374 shares of the financial services provider's stock valued at $11,550,000 after buying an additional 5,962 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Performance

Shares of IBKR traded up $0.77 on Thursday, hitting $62.56. 2,292,268 shares of the stock traded hands, compared to its average volume of 7,598,947. Interactive Brokers Group, Inc. has a one year low of $30.01 and a one year high of $68.07. The company has a market capitalization of $106.10 billion, a PE ratio of 32.10, a P/E/G ratio of 2.58 and a beta of 1.22. The business has a 50 day simple moving average of $60.71 and a 200 day simple moving average of $52.00.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the prior year, the firm posted $1.76 EPS. The firm's quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is 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 16.49%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IBKR shares. The Goldman Sachs Group increased their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Piper Sandler lifted their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Barclays boosted their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Citigroup upped their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 233,972 shares of company stock valued at $15,746,449. 2.97% of the stock is currently owned by company insiders.

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.