Interactive Brokers Group, Inc. $IBKR Shares Sold by Illumine Investment Management LLC

Key Points

• Illumine Investment Management cut its stake in Interactive Brokers Group by 18.6% in the first quarter, selling 12,210 shares and leaving it with 53,459 shares worth about $3.6 million.
• Analysts remain generally positive on IBKR, with a consensus rating of “Moderate Buy” and an average price target of $90.25, though some firms recently issued or maintained hold ratings.
• Interactive Brokers reported Q1 EPS of $0.60, topping expectations, and raised its quarterly dividend to $0.0875 per share, up from $0.08 previously.

Illumine Investment Management LLC reduced its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 18.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,459 shares of the financial services provider's stock after selling 12,210 shares during the quarter. Interactive Brokers Group makes up approximately 2.8% of Illumine Investment Management LLC's holdings, making the stock its 7th biggest position. Illumine Investment Management LLC's holdings in Interactive Brokers Group were worth $3,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Reflection Asset Management bought a new stake in Interactive Brokers Group during the fourth quarter worth about $26,000. IMA Advisory Services Inc. increased its holdings in Interactive Brokers Group by 64.3% during the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock worth $29,000 after buying an additional 178 shares during the last quarter. Tobam acquired a new position in Interactive Brokers Group during the fourth quarter worth $30,000. Entrust Financial LLC bought a new stake in Interactive Brokers Group during the fourth quarter worth $31,000. Finally, SHP Wealth Management bought a new stake in Interactive Brokers Group during the fourth quarter worth $31,000. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IBKR shares. China Renaissance started coverage on shares of Interactive Brokers Group in a research note on Tuesday, July 7th. They set a "hold" rating on the stock. Weiss Ratings cut shares of Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, June 29th. BMO Capital Markets raised their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Wolfe Research started coverage on Interactive Brokers Group in a research note on Monday, June 8th. They set an "outperform" rating and a $101.00 target price on the stock. Finally, Piper Sandler boosted their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.25.

Interactive Brokers Group Stock Down 0.6%

Shares of Interactive Brokers Group stock opened at $93.56 on Tuesday. The company has a market capitalization of $158.71 billion, a price-to-earnings ratio of 40.33, a PEG ratio of 2.60 and a beta of 1.33. Interactive Brokers Group, Inc. has a 12-month low of $58.18 and a 12-month high of $97.84. The firm's 50-day moving average price is $88.70 and its two-hundred day moving average price is $77.78.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $1.69 billion. During the same period in the previous year, the company earned $1.94 EPS. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, sell-side analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. Interactive Brokers Group's dividend payout ratio is currently 15.09%.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the company's 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 owned 173,482 shares of the company's stock, valued at $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by corporate insiders.

Interactive Brokers Group Company 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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