Mirae Asset Global Investments Co. Ltd. Purchases 5,104 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly increased its position in Interactive Brokers Group, acquiring an additional 5,104 shares, resulting in a total of 5,580 shares valued at approximately $309,000.
• Multiple hedge funds have adjusted their holdings in Interactive Brokers, with 23.80% of the stock now owned by institutional investors and hedge funds, highlighting growing interest in the company.
• Analysts show a mixed outlook on Interactive Brokers Group, with ratings ranging from "sell" to "overweight," and a consensus price target of $65.47 as of the latest updates.

Mirae Asset Global Investments Co. Ltd. grew its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 1,072.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,580 shares of the financial services provider's stock after acquiring an additional 5,104 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Interactive Brokers Group were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Compound Planning Inc. raised its holdings in shares of Interactive Brokers Group by 1.1% in the 1st quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider's stock worth $958,000 after buying an additional 62 shares in the last quarter. CWM LLC increased its holdings in Interactive Brokers Group by 6.6% during the 1st 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 in the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Interactive Brokers Group by 0.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock valued at $1,410,000 after buying an additional 70 shares during the period. USS Investment Management Ltd increased its stake in shares of Interactive Brokers Group by 0.4% in the 1st quarter. USS Investment Management Ltd now owns 20,161 shares of the financial services provider's stock valued at $3,339,000 after buying an additional 76 shares during the period. Finally, Ritholtz Wealth Management increased its stake in shares of Interactive Brokers Group by 4.1% in the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock valued at $329,000 after buying an additional 79 shares during the period. 23.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IBKR. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Barclays reissued an "overweight" rating and issued a $81.00 target price (up from $73.00) on shares of Interactive Brokers Group in a research note on Wednesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. Zacks Research lowered Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Finally, BMO Capital Markets initiated coverage on Interactive Brokers Group in a research report on Friday, October 3rd. They issued an "outperform" rating and a $82.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Interactive Brokers Group currently has an average rating of "Moderate Buy" and a consensus price target of $65.47.

Insider Activity

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 116,861 shares of Interactive Brokers Group stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at approximately $10,289,092.42. The trade was a 42.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction dated 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 represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,205,683 shares of company stock worth $77,217,965. Corporate insiders own 2.97% of the company's stock.

Interactive Brokers Group Trading Down 5.0%

IBKR stock opened at $69.01 on Friday. The business's 50-day moving average price is $64.87 and its two-hundred day moving average price is $55.47. The firm has a market cap of $117.05 billion, a PE ratio of 35.48, a P/E/G ratio of 2.98 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The company's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 earnings per share. On average, analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were issued a dividend of $0.08 per share. The ex-dividend date was 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%.

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.

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