Northwestern Mutual Wealth Management Co. Grows Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Northwestern Mutual Wealth Management boosted its stake in Interactive Brokers Group by 1,111.7% in the fourth quarter, ending with 141,653 shares valued at about $9.11 million.
• Interactive Brokers reported better-than-expected quarterly EPS of $0.60 versus the $0.57 estimate, with revenue up 17% year over year to $1.68 billion.
• The company also raised its quarterly dividend to $0.0875 per share, while analysts maintain a Moderate Buy consensus and a $83.25 average price target.

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 1,111.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,653 shares of the financial services provider's stock after buying an additional 129,963 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Interactive Brokers Group were worth $9,110,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IBKR. Vanguard Group Inc. boosted its position in Interactive Brokers Group by 26.4% in the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock worth $3,637,234,000 after purchasing an additional 11,048,679 shares during the last quarter. State Street Corp boosted its position in Interactive Brokers Group by 23.2% in the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider's stock worth $1,283,221,000 after purchasing an additional 3,517,729 shares during the last quarter. Wellington Management Group LLP boosted its position in Interactive Brokers Group by 17.6% in the third quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider's stock worth $750,110,000 after purchasing an additional 1,630,620 shares during the last quarter. Orbis Allan Gray Ltd boosted its position in Interactive Brokers Group by 178.8% in the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock worth $539,697,000 after purchasing an additional 6,246,715 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Interactive Brokers Group by 225.4% in the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock worth $420,834,000 after purchasing an additional 5,260,923 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Trading Up 0.0%

Shares of IBKR opened at $83.83 on Friday. The business's 50 day moving average is $75.22 and its 200 day moving average is $71.48. The company has a market capitalization of $142.21 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 2.32 and a beta of 1.32. Interactive Brokers Group, Inc. has a 12-month low of $49.15 and a 12-month high of $88.44.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued 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. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $1.94 EPS. Equities research analysts predict that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. Interactive Brokers Group's dividend payout ratio is presently 15.09%.

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 that occurred on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IBKR has been the topic of several research reports. Barclays raised their target price on Interactive Brokers Group from $85.00 to $93.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Zacks Research cut Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a research report on Friday, May 1st. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 target price on the stock. Finally, Piper Sandler raised their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the stock 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 company. According to data from MarketBeat.com, Interactive Brokers Group has a consensus rating of "Moderate Buy" and a consensus price target of $83.25.

About Interactive Brokers Group

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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