National Bank of Canada FI Sells 52,061 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• National Bank of Canada FI decreased its holdings in Interactive Brokers by 85.8%, now owning 8,631 shares valued at approximately $1.43 million after selling 52,061 shares in the first quarter.
• Insider trading was notable, as Vice Chairman Earl H. Nemser sold 194,086 shares for over $13 million, reducing his stake by 29.60%.
• Analysts have recently raised price targets for the stock, with Goldman Sachs setting a new target of $60.00 and Barclays increasing theirs to $73.00, indicating a positive outlook for the company.

National Bank of Canada FI lessened its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 85.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,631 shares of the financial services provider's stock after selling 52,061 shares during the quarter. National Bank of Canada FI's holdings in Interactive Brokers Group were worth $1,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC increased its holdings in shares of Interactive Brokers Group by 6.6% in the first quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock valued at $176,000 after purchasing an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Interactive Brokers Group by 0.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock worth $1,410,000 after buying an additional 70 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Interactive Brokers Group by 4.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock worth $329,000 after buying an additional 79 shares during the period. Joel Isaacson & Co. LLC grew its stake in Interactive Brokers Group by 3.3% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider's stock valued at $411,000 after buying an additional 79 shares during the last quarter. Finally, Securian Asset Management Inc. grew its stake in Interactive Brokers Group by 1.2% in the 1st quarter. Securian Asset Management Inc. now owns 8,331 shares of the financial services provider's stock valued at $1,380,000 after buying an additional 100 shares during the last quarter. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Performance

Shares of NASDAQ IBKR traded down $0.2730 during trading on Wednesday, hitting $62.1370. 3,131,045 shares of the company traded hands, compared to its average volume of 7,080,732. Interactive Brokers Group, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $68.07. The business's fifty day moving average is $59.41 and its 200 day moving average is $51.73. The firm has a market capitalization of $105.39 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 2.59 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. Interactive Brokers Group's revenue was up 14.7% compared to the same quarter last year. On average, analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group's payout ratio is currently 16.49%.

Analyst Upgrades and Downgrades

IBKR has been the subject of several research reports. The Goldman Sachs Group raised their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Piper Sandler lifted their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays upped their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report 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, Citigroup boosted their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.38.

Insiders Place Their Bets

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the sale, the insider owned 461,500 shares in the company, valued at $31,146,635. This trade represents a 29.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 233,972 shares of company stock valued at $15,746,449 in the last 90 days. 2.97% of the stock is owned by insiders.

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.