Interactive Brokers Group, Inc. $IBKR Shares Sold by Geode Capital Management LLC

Key Points

• Geode Capital Management trimmed its IBKR stake by 1.4% in the fourth quarter, selling 140,926 shares but still holding more than 10.2 million shares valued at about $654.3 million.
• Interactive Brokers posted quarterly EPS of $0.60, topping analyst expectations, while revenue rose 17% year over year to $1.68 billion, just shy of estimates.
• The company also raised its quarterly dividend to $0.0875 per share, and Wall Street sentiment remains constructive with a consensus rating of Moderate Buy and a price target of $83.25.

Geode Capital Management LLC cut its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,203,434 shares of the financial services provider's stock after selling 140,926 shares during the period. Geode Capital Management LLC owned 0.60% of Interactive Brokers Group worth $654,260,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IBKR. Murphy & Mullick Capital Management Corp acquired a new position in shares of Interactive Brokers Group during the third quarter worth $27,000. Entrust Financial LLC acquired a new position in shares of Interactive Brokers Group during the fourth quarter worth $31,000. Tucker Asset Management LLC acquired a new position in shares of Interactive Brokers Group during the fourth quarter worth $32,000. Lloyd Advisory Services LLC. acquired a new position in shares of Interactive Brokers Group during the fourth quarter worth $33,000. Finally, Blue Trust Inc. increased its position in shares of Interactive Brokers Group by 236.0% during the fourth quarter. Blue Trust Inc. now owns 672 shares of the financial services provider's stock worth $43,000 after purchasing an additional 472 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the sale, the director directly owned 173,482 shares of the company's stock, valued at approximately $13,345,970.26. This 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 can be accessed through this link. Insiders own 2.80% of the company's stock.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $86.97 on Friday. Interactive Brokers Group, Inc. has a one year low of $49.15 and a one year high of $88.44. The firm has a market cap of $147.53 billion, a price-to-earnings ratio of 37.49, a PEG ratio of 2.40 and a beta of 1.32. The firm's fifty day moving average is $77.02 and its two-hundred day moving average is $71.97.

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

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio is currently 13.79%.

Wall Street Analysts Forecast Growth

IBKR has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Zacks Research lowered shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Barclays boosted their price objective on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods started coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price objective on the stock. Finally, BMO Capital Markets boosted their price objective 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. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.25.

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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