Interactive Brokers Group, Inc. $IBKR Shares Sold by Bronte Capital Management Pty Ltd.

Key Points

• Bronte Capital Management reduced its stake in Interactive Brokers Group by 13.8% in the first quarter, selling 204,563 shares. After the sale, it still held 1,281,731 shares valued at about $85.97 million.
• Interactive Brokers reported Q1 earnings of $0.60 per share, beating analyst expectations of $0.57, while revenue rose 17% year over year to $1.68 billion. The company also lifted its quarterly dividend to $0.0875 per share, up from $0.08.
• Shares of IBKR were trading around $91.33, near their 52-week high of $97.84, and analysts currently rate the stock Moderate Buy with an average price target of $85.22.

Bronte Capital Management Pty Ltd. decreased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 13.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,281,731 shares of the financial services provider's stock after selling 204,563 shares during the period. Interactive Brokers Group makes up about 9.2% of Bronte Capital Management Pty Ltd.'s investment portfolio, making the stock its 3rd largest position. Bronte Capital Management Pty Ltd. owned 0.08% of Interactive Brokers Group worth $85,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Covenant Asset Management LLC purchased a new stake in shares of Interactive Brokers Group in the fourth quarter worth about $3,028,000. Crocodile Capital Partners GmbH purchased a new stake in shares of Interactive Brokers Group during the 4th quarter valued at about $12,041,000. OFI Invest Asset Management acquired a new position in Interactive Brokers Group during the 4th quarter worth approximately $22,356,000. Leonteq Securities AG acquired a new position in Interactive Brokers Group during the 4th quarter worth approximately $1,746,000. Finally, Successful Portfolios LLC purchased a new position in Interactive Brokers Group in the 4th quarter worth approximately $1,431,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Down 2.1%

Shares of IBKR opened at $91.33 on Friday. The firm has a market cap of $154.93 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 2.58 and a beta of 1.33. The business's 50 day moving average is $86.38 and its two-hundred day moving average is $76.29. Interactive Brokers Group, Inc. has a 52-week low of $56.33 and a 52-week high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The business's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 earnings per share. On average, equities analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were issued a dividend of $0.0875 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. Interactive Brokers Group's dividend payout ratio (DPR) is 15.09%.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the transaction, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Piper Sandler upped their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. BMO Capital Markets raised their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research note on Friday, May 1st. Finally, Weiss Ratings lowered shares of Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.22.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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