Interactive Brokers Group, Inc. $IBKR Stake Reduced by Lansing Management LP

Key Points

• Lansing Management LP reduced its stake in Interactive Brokers Group by 6.2%, owning 99,934 shares valued at $16.55 million, making it the firm's 4th largest holding.
• Interactive Brokers recently raised its quarterly dividend to $0.08 per share, resulting in an annualized yield of 0.5% and a payout ratio of 16.49%.
• Analysts have upgraded their ratings for Interactive Brokers, with consensus indicating a “Moderate Buy” and a target price of $59.38, while the stock's recent performance shows a 12-month high of $68.07.

Lansing Management LP reduced its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,934 shares of the financial services provider's stock after selling 6,625 shares during the period. Interactive Brokers Group comprises 13.9% of Lansing Management LP's investment portfolio, making the stock its 4th biggest position. Lansing Management LP's holdings in Interactive Brokers Group were worth $16,548,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IBKR. American Century Companies Inc. grew its holdings in Interactive Brokers Group by 1,476.3% during the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after buying an additional 1,343,007 shares during the last quarter. Bank of America Corp DE grew its holdings in Interactive Brokers Group by 91.4% during the 4th quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock valued at $413,226,000 after buying an additional 1,117,186 shares during the last quarter. GAMMA Investing LLC grew its holdings in Interactive Brokers Group by 22,211.1% during the 1st quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock valued at $701,950,000 after buying an additional 422,010 shares during the last quarter. Fullerton Fund Management Co Ltd. acquired a new stake in Interactive Brokers Group during the 4th quarter valued at $69,057,000. Finally, Two Sigma Advisers LP grew its holdings in Interactive Brokers Group by 456.0% during the 4th quarter. Two Sigma Advisers LP now owns 465,900 shares of the financial services provider's stock valued at $82,311,000 after buying an additional 382,100 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the transaction, the insider owned 461,500 shares in the company, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 233,972 shares of company stock valued at $15,746,449 in the last 90 days. 2.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Barclays increased their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. 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 report on Tuesday, July 15th. Citigroup raised their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, The Goldman Sachs Group raised their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.38.

Interactive Brokers Group Stock Up 0.8%

Shares of IBKR stock traded up $0.53 during mid-day trading on Thursday, hitting $64.48. 1,799,838 shares of the company's stock were exchanged, compared to its average volume of 7,579,771. Interactive Brokers Group, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $68.07. The stock has a market cap of $109.37 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 2.54 and a beta of 1.23. The stock has a 50-day simple moving average of $61.85 and a two-hundred day simple moving average of $52.20.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating 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 firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

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