Interactive Brokers Group, Inc. (NASDAQ:IBKR) Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. reduced its stake in Interactive Brokers Group by 22.4% during the 1st quarter, owning 3,096,716 shares valued at approximately $512.8 million as of the end of the quarter.
• Several other investors, including N.E.W. Advisory Services LLC and City Holding Co., made new purchases of Interactive Brokers shares, contributing to institutional investors owning 23.80% of the company's stock.
• Interactive Brokers recently announced a quarterly dividend of $0.08 per share, reflecting a dividend yield of 0.5%, which will be paid to shareholders of record on September 1st.

JPMorgan Chase & Co. lessened its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,096,716 shares of the financial services provider's stock after selling 891,654 shares during the period. JPMorgan Chase & Co. owned approximately 0.73% of Interactive Brokers Group worth $512,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IBKR. N.E.W. Advisory Services LLC purchased a new position in Interactive Brokers Group in the first quarter valued at $26,000. City Holding Co. purchased a new position in Interactive Brokers Group in the first quarter valued at $33,000. Nvwm LLC purchased a new position in Interactive Brokers Group in the first quarter valued at $33,000. ASR Vermogensbeheer N.V. purchased a new position in Interactive Brokers Group in the first quarter valued at $33,000. Finally, Bellwether Advisors LLC purchased a new position in Interactive Brokers Group in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Trading Up 0.7%

Shares of NASDAQ IBKR traded up $0.43 during mid-day trading on Thursday, reaching $63.92. The company had a trading volume of 3,684,738 shares, compared to its average volume of 7,177,464. The firm has a 50 day simple moving average of $58.49 and a two-hundred day simple moving average of $51.46. The stock has a market cap of $108.06 billion, a P/E ratio of 32.86, a PEG ratio of 2.76 and a beta of 1.22. Interactive Brokers Group, Inc. has a 52-week low of $29.87 and a 52-week high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data 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 net margin of 9.78% and a return on equity of 4.92%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm posted $1.76 EPS. Interactive Brokers Group's revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group's dividend payout ratio (DPR) is 16.49%.

Analysts Set New Price Targets

A number of research firms have recently commented on IBKR. Bank of America cut their target price on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Barclays boosted their target price on shares of 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 raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Citigroup boosted their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group boosted their target price 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Interactive Brokers Group has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 233,972 shares of company stock valued at $15,746,449. 2.97% of the stock is currently owned by company insiders.

About Interactive Brokers Group

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.