Royal Bank of Canada Sells 21,856 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Royal Bank of Canada has reduced its stake in Interactive Brokers Group by 3.5%, owning approximately 607,518 shares worth $100.6 million after selling 21,856 shares in the first quarter.
• Analysts have upgraded their ratings on Interactive Brokers Group, with seven assigning a Buy rating and one a Hold rating, while price targets have increased to an average of $59.38.
• Insider trading revealed that Vice Chairman Earl H. Nemser sold 194,086 shares for over $13 million, representing a 29.60% decrease in their ownership, as insiders sold a total of 233,972 shares valued at $15.7 million in the last quarter.

Royal Bank of Canada lowered its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 607,518 shares of the financial services provider's stock after selling 21,856 shares during the quarter. Royal Bank of Canada owned approximately 0.14% of Interactive Brokers Group worth $100,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Graham Capital Management L.P. grew its stake in shares of Interactive Brokers Group by 10.8% during the 1st quarter. Graham Capital Management L.P. now owns 30,192 shares of the financial services provider's stock valued at $4,999,000 after acquiring an additional 2,952 shares during the period. Retirement Planning Co of New England Inc. bought a new position in shares of Interactive Brokers Group during the 1st quarter valued at approximately $1,167,000. Quarry LP grew its stake in shares of Interactive Brokers Group by 486.3% during the 1st quarter. Quarry LP now owns 299 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 248 shares during the period. Stony Point Capital LLC grew its stake in shares of Interactive Brokers Group by 167.0% during the 1st quarter. Stony Point Capital LLC now owns 177,900 shares of the financial services provider's stock valued at $29,458,000 after acquiring an additional 111,274 shares during the period. Finally, Vident Advisory LLC grew its stake in shares of Interactive Brokers Group by 160.0% during the 1st quarter. Vident Advisory LLC now owns 9,728 shares of the financial services provider's stock valued at $1,611,000 after acquiring an additional 5,987 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Insider Activity at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction dated 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 sale, the insider owned 461,500 shares of the company's stock, valued at $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 233,972 shares of company stock worth $15,746,449 in the last 90 days. Company insiders own 2.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IBKR shares. The Goldman Sachs Group boosted their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Citigroup upped their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Barclays upped their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Piper Sandler increased their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Performance

IBKR stock traded down $4.12 during midday trading on Friday, reaching $60.16. The company's stock had a trading volume of 11,584,850 shares, compared to its average volume of 9,753,378. The stock has a fifty day simple moving average of $62.19 and a two-hundred day simple moving average of $52.21. Interactive Brokers Group, Inc. has a 1 year low of $30.01 and a 1 year high of $68.07. The firm has a market capitalization of $102.04 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 2.45 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The business's revenue was up 14.7% compared to the same quarter last year. As a group, analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date 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 currently 16.49%.

Interactive Brokers Group 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.