NewEdge Advisors LLC Trims Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• NewEdge Advisors cut its Interactive Brokers position by 59.9% in the first quarter, selling 22,390 shares and retaining 14,984 shares valued at approximately $1.005 million. Institutional investors collectively own 23.8% of the company.
• Interactive Brokers reported quarterly EPS of $0.69, exceeding estimates of $0.64, while revenue rose 28.1% year over year to $1.88 billion. The company declared a quarterly dividend of $0.0875 per share, equal to a 0.4% annual yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $96.89, compared with the stock’s reported opening price of $90.56.

NewEdge Advisors LLC trimmed its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 59.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,984 shares of the financial services provider's stock after selling 22,390 shares during the period. NewEdge Advisors LLC's holdings in Interactive Brokers Group were worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in Interactive Brokers Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider's stock worth $2,269,000 after buying an additional 2,713 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Interactive Brokers Group by 307.9% in the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider's stock valued at $803,000 after acquiring an additional 10,943 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Interactive Brokers Group in the second quarter valued at about $318,000. Daiwa Securities Group Inc. boosted its stake in shares of Interactive Brokers Group by 291.2% in the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider's stock worth $1,973,000 after acquiring an additional 26,500 shares during the period. Finally, AXA S.A. boosted its stake in shares of Interactive Brokers Group by 128.1% in the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider's stock worth $710,000 after acquiring an additional 7,197 shares during the period. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Stock Performance

IBKR stock opened at $90.56 on Wednesday. The firm has a fifty day moving average price of $91.77 and a 200 day moving average price of $81.47. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $97.84. The firm has a market cap of $154.08 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 1.70 and a beta of 1.34.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Interactive Brokers Group's revenue was up 28.1% on a year-over-year basis. On average, equities analysts predict that Interactive Brokers Group, Inc. will post 2.69 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. Interactive Brokers Group's dividend payout ratio is currently 14.00%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IBKR shares. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Wolfe Research initiated coverage on shares of Interactive Brokers Group in a report on Monday, June 8th. They issued an "outperform" rating and a $101.00 price target on the stock. BMO Capital Markets reiterated an "outperform" rating and issued a $110.00 price target (up from $105.00) on shares of Interactive Brokers Group in a research note on Wednesday, July 22nd. Barclays set a $114.00 price objective on Interactive Brokers Group and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Finally, China Renaissance assumed coverage on Interactive Brokers Group in a report on Tuesday, July 7th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Interactive Brokers Group has a consensus rating of "Moderate Buy" and an average target price of $96.89.

Interactive Brokers Group 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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