Korea Investment CORP Buys Shares of 50,193 Interactive Brokers Group, Inc. $IBKR

Key Points

• Korea Investment CORP has acquired 50,193 shares of Interactive Brokers Group, Inc. valued at approximately $8.31 million during the 1st quarter.
• Analysts have raised the price target for Interactive Brokers Group, with Goldman Sachs increasing it from $53 to $60 and Barclays from $65 to $73.
• The company announced a quarterly dividend of $0.08 per share, with a payout date of September 12th, representing a dividend yield of 0.5%.

Korea Investment CORP bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,193 shares of the financial services provider's stock, valued at approximately $8,311,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC purchased a new stake in Interactive Brokers Group during the first quarter worth approximately $26,000. City Holding Co. acquired a new position in shares of Interactive Brokers Group during the 1st quarter valued at $33,000. Nvwm LLC purchased a new stake in Interactive Brokers Group during the 1st quarter worth $33,000. ASR Vermogensbeheer N.V. acquired a new stake in Interactive Brokers Group in the 1st quarter valued at $33,000. Finally, Bellwether Advisors LLC purchased a new position in Interactive Brokers Group in the fourth quarter valued at about $35,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Trading Up 1.1%

IBKR stock traded up $0.70 during mid-day trading on Thursday, hitting $62.49. 2,292,268 shares of the company were exchanged, compared to its average volume of 7,598,947. The firm has a fifty day simple moving average of $60.71 and a 200 day simple moving average of $52.00. The company has a market capitalization of $105.98 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 2.58 and a beta of 1.22. Interactive Brokers Group, Inc. has a twelve month low of $30.01 and a twelve month high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The company's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 earnings per share. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share 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 given a $0.08 dividend. 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 presently 16.49%.

Insider Buying and Selling at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction on 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 transaction, the insider directly owned 461,500 shares in the company, 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 SEC, which is available through this hyperlink. In the last ninety days, insiders sold 233,972 shares of company stock valued at $15,746,449. 2.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Barclays lifted their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Citigroup upped 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 note on Monday, July 7th. Finally, The Goldman Sachs Group lifted their price target 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. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.38.

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.