Legal & General Group Plc Grows Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Legal & General Group Plc increased its stake in Interactive Brokers Group by 13.8% in the fourth quarter, adding 255,272 shares to bring its total holdings to 2,103,969 shares valued at about $135.3 million.
• Interactive Brokers reported better-than-expected quarterly earnings of $0.60 per share, topping estimates by $0.03, while revenue rose 17% year over year to $1.68 billion.
• The company raised its quarterly dividend to $0.0875 per share from $0.08, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $83.25.

Legal & General Group Plc raised its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,103,969 shares of the financial services provider's stock after buying an additional 255,272 shares during the quarter. Legal & General Group Plc owned about 0.12% of Interactive Brokers Group worth $135,306,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Interactive Brokers Group during the third quarter valued at about $27,000. Entrust Financial LLC purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at about $31,000. Tucker Asset Management LLC purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at about $32,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at about $33,000. Finally, Blue Trust Inc. lifted its position in shares of Interactive Brokers Group by 236.0% during the fourth quarter. Blue Trust Inc. now owns 672 shares of the financial services provider's stock valued at $43,000 after buying an additional 472 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director owned 173,482 shares of the company's stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Interactive Brokers Group Trading Up 2.7%

Shares of NASDAQ IBKR opened at $83.11 on Friday. Interactive Brokers Group, Inc. has a 12 month low of $49.15 and a 12 month high of $88.44. The company has a 50 day simple moving average of $76.65 and a two-hundred day simple moving average of $71.86. The stock has a market cap of $140.98 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 2.24 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.69 billion. During the same period in the previous year, the business posted $1.94 EPS. The business's revenue was up 17.0% compared to the same quarter last year. Analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.0875 per share. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio is presently 13.79%.

Wall Street Analyst Weigh In

Several analysts have commented on IBKR shares. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research report on Friday, May 1st. Zacks Research lowered Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Jefferies Financial Group dropped their price target on Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Piper Sandler increased their price objective on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Finally, Barclays increased their price objective on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.25.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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