Interactive Brokers Group, Inc. $IBKR Shares Sold by Polymer Capital Management HK LTD

Key Points

• Polymer Capital Management HK LTD cut its stake in Interactive Brokers Group by 29.9% in the fourth quarter, selling 12,320 shares and leaving it with 28,938 shares worth about $1.86 million.
• Interactive Brokers reported solid quarterly results, with earnings per share of $0.60 beating estimates, while revenue rose 17% year over year to $1.68 billion.
• The company also raised its quarterly dividend to $0.0875 per share, and Wall Street analysts remain generally positive with a consensus rating of Moderate Buy and an average target price of $85.22.

Polymer Capital Management HK LTD lowered its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,938 shares of the financial services provider's stock after selling 12,320 shares during the period. Polymer Capital Management HK LTD's holdings in Interactive Brokers Group were worth $1,861,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IBKR. Vanguard Group Inc. raised its position in shares of Interactive Brokers Group by 26.4% in the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock worth $3,637,234,000 after acquiring an additional 11,048,679 shares during the period. Norges Bank purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $453,146,000. Orbis Allan Gray Ltd increased its stake in shares of Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock worth $539,697,000 after purchasing an additional 6,246,715 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Interactive Brokers Group by 225.4% during the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock worth $420,834,000 after purchasing an additional 5,260,923 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Interactive Brokers Group by 23.2% during the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider's stock worth $1,283,221,000 after purchasing an additional 3,517,729 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Interactive Brokers Group Trading Up 2.2%

IBKR opened at $90.81 on Friday. The firm has a market capitalization of $154.05 billion, a PE ratio of 39.14, a PEG ratio of 2.45 and a beta of 1.32. Interactive Brokers Group, Inc. has a twelve month low of $49.30 and a twelve month high of $93.10. The firm's 50-day moving average price is $81.21 and its 200 day moving average price is $73.46.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $1.68 billion for 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%. Interactive Brokers Group's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 earnings per share. As a group, 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 was paid on Friday, June 12th. Investors of record on Monday, June 1st were given a dividend of $0.0875 per share. The ex-dividend date was Monday, June 1st. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analysts Forecast Growth

IBKR has been the subject of a number of research reports. Piper Sandler boosted their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They set a "market perform" rating and a $75.00 target price for the company. BMO Capital Markets boosted their target price on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Barclays boosted their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Finally, Wolfe Research initiated coverage on shares of Interactive Brokers Group in a research note on Monday. They set an "outperform" rating and a $101.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.22.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by 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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