Interactive Brokers Group, Inc. $IBKR Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Interactive Brokers Group by 18.4%, now owning approximately $525 million worth of the stock, making it their 24th biggest holding.
• Recent research reports have resulted in multiple analysts raising their price targets for Interactive Brokers Group, with a new average target set at $59.38, alongside a consensus rating of "Moderate Buy."
• Interactive Brokers announced a quarterly dividend of $0.08 per share, indicating a yield of 0.5% and a payout ratio of 16.49% for shareholders.

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 18.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,170,779 shares of the financial services provider's stock after selling 717,035 shares during the quarter. Interactive Brokers Group accounts for about 1.3% of Kayne Anderson Rudnick Investment Management LLC's investment portfolio, making the stock its 24th largest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.75% of Interactive Brokers Group worth $525,049,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. N.E.W. Advisory Services LLC purchased a new stake in Interactive Brokers Group during the 1st quarter worth $26,000. City Holding Co. acquired a new stake in shares of Interactive Brokers Group in the first quarter valued at about $33,000. Nvwm LLC purchased a new stake in shares of Interactive Brokers Group during the 1st quarter valued at about $33,000. ASR Vermogensbeheer N.V. acquired a new position in Interactive Brokers Group during the 1st quarter worth approximately $33,000. Finally, Bellwether Advisors LLC purchased a new position in Interactive Brokers Group in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 23.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IBKR shares. Citigroup lifted 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. The Goldman Sachs Group lifted 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. Barclays boosted their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Piper Sandler raised their target price on 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, Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock traded up $0.99 during trading hours on Thursday, reaching $62.78. The company's stock had a trading volume of 8,123,920 shares, compared to its average volume of 7,636,057. Interactive Brokers Group, Inc. has a one year low of $30.01 and a one year high of $68.07. The company's 50 day simple moving average is $60.71 and its 200 day simple moving average is $52.00. The stock has a market cap of $106.48 billion, a P/E ratio of 32.28, a price-to-earnings-growth ratio of 2.58 and a beta of 1.22.

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 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 for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. Interactive Brokers Group's quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be issued a $0.08 dividend. 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%.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the transaction, the insider directly owned 461,500 shares in the company, valued at $31,146,635. This represents a 29.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 233,972 shares of company stock valued at $15,746,449. Company insiders own 2.97% of the company's stock.

Interactive Brokers Group Company 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.