Interactive Brokers Group, Inc. $IBKR Stock Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its Interactive Brokers Group stake by 1.7%, selling 25,304 shares and ending the quarter with 1.50 million shares valued at approximately $128.3 million.
• Other institutional investors increased their positions, including Bessemer Group, Assenagon Asset Management, Amundi and Goldman Sachs; institutional and hedge-fund investors collectively own 23.8% of IBKR.
• IBKR shares rose 1.7% to $90.58, while the company reported quarterly EPS of $0.69 versus the $0.64 consensus estimate and revenue of $1.88 billion. Analysts maintain a “Moderate Buy” consensus with a $99.92 average price target.

Congress Asset Management Co. decreased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 1.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,502,435 shares of the financial services provider's stock after selling 25,304 shares during the quarter. Congress Asset Management Co. owned approximately 0.09% of Interactive Brokers Group worth $128,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Interactive Brokers Group during the 2nd quarter valued at about $210,639,000. Bessemer Group Inc. boosted its holdings in shares of Interactive Brokers Group by 156.0% in the first quarter. Bessemer Group Inc. now owns 3,922,736 shares of the financial services provider's stock worth $263,097,000 after buying an additional 2,390,247 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Interactive Brokers Group by 2,707.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,192,749 shares of the financial services provider's stock valued at $79,998,000 after buying an additional 1,150,271 shares during the period. Amundi grew its position in Interactive Brokers Group by 62.4% during the first quarter. Amundi now owns 2,433,236 shares of the financial services provider's stock valued at $163,197,000 after buying an additional 934,843 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Interactive Brokers Group by 54.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,518,858 shares of the financial services provider's stock valued at $161,988,000 after buying an additional 886,372 shares during the period. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Up 1.7%

NASDAQ:IBKR traded up $1.53 during trading hours on Tuesday, hitting $90.58. 3,416,277 shares of the stock traded hands, compared to its average volume of 4,720,490. Interactive Brokers Group, Inc. has a 1 year low of $58.95 and a 1 year high of $98.75. The company has a market cap of $154.11 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 1.63 and a beta of 1.37. The stock has a 50 day moving average price of $90.60 and a 200 day moving average price of $86.00.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.80 billion. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The company's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 earnings per share. Equities analysts forecast that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Tuesday, September 1st were issued a $0.0875 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio is currently 14.00%.

Analyst Ratings Changes

Several research firms have weighed in on IBKR. Capital One Financial set a $105.00 price target on shares of Interactive Brokers Group in a research report on Tuesday. Piper Sandler set a $109.00 price objective on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. China Renaissance started coverage on Interactive Brokers Group in a research note on Tuesday, July 7th. They issued a "hold" rating for the company. The Goldman Sachs Group restated a "buy" rating and issued a $111.00 price objective on shares of Interactive Brokers Group in a research note on Thursday. Finally, Wolfe Research began coverage on Interactive Brokers Group in a report on Monday, June 8th. They issued an "outperform" rating and a $101.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.92.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.

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