Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Interactive Brokers Group, purchasing an additional 85,692 shares, resulting in a total of 85,953 shares valued at approximately $14.23 million.
• Several institutions recently bought stakes in Interactive Brokers Group, with 23.80% of the stock now owned by institutional investors.
• Interactive Brokers Group continues to receive positive ratings, with seven analysts assigning a buy rating and an average target price of $59.38.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 32,832.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,953 shares of the financial services provider's stock after acquiring an additional 85,692 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Interactive Brokers Group were worth $14,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IBKR. Bank of America Corp DE increased its stake in shares of Interactive Brokers Group by 91.4% in the fourth quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock worth $413,226,000 after acquiring an additional 1,117,186 shares during the period. GAMMA Investing LLC increased its stake in shares of Interactive Brokers Group by 22,211.1% in the first quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock worth $701,950,000 after acquiring an additional 422,010 shares during the period. Fullerton Fund Management Co Ltd. acquired a new stake in shares of Interactive Brokers Group in the fourth quarter worth $69,057,000. Two Sigma Advisers LP increased its stake in shares of Interactive Brokers Group by 456.0% in the fourth quarter. Two Sigma Advisers LP now owns 465,900 shares of the financial services provider's stock worth $82,311,000 after acquiring an additional 382,100 shares during the period. Finally, Two Sigma Investments LP grew its position in Interactive Brokers Group by 343.9% during the fourth quarter. Two Sigma Investments LP now owns 489,175 shares of the financial services provider's stock valued at $86,423,000 after buying an additional 378,981 shares during the period. Institutional investors and hedge funds own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IBKR. Citigroup raised their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays raised their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Bank of America reduced their target price on 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. Finally, The Goldman Sachs Group increased their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction that occurred 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 completion of 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 legal filing with the SEC, which is accessible through this link. Insiders sold 233,972 shares of company stock valued at $15,746,449 in the last ninety days. Corporate insiders own 2.97% of the company's stock.

Interactive Brokers Group Trading Up 0.7%

NASDAQ:IBKR traded up $0.43 during trading hours on Thursday, hitting $63.92. 3,684,738 shares of the stock were exchanged, compared to its average volume of 7,177,464. Interactive Brokers Group, Inc. has a 52-week low of $29.87 and a 52-week high of $68.07. The firm's fifty day moving average price is $58.49 and its 200 day moving average price is $51.46. The company has a market cap of $108.06 billion, a P/E ratio of 32.86, a P/E/G ratio of 2.76 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $1.48 billion during 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 business's revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 earnings per share. Equities analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

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

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.