Nuveen LLC Makes New $48.48 Million Investment in Interactive Brokers Group, Inc. $IBKR

Key Points

• Nuveen LLC has made a new investment of approximately $48.48 million in Interactive Brokers Group, acquiring 292,775 shares during the first quarter.
• Insider transactions include Vice Chairman Earl H. Nemser selling 194,086 shares valued at over $13 million, reducing his ownership by 29.6%.
• Equities analysts have recently upgraded their ratings on Interactive Brokers Group, with target prices raised significantly, reflecting a consensus rating of "Moderate Buy" and an average price target of $59.38.

Nuveen LLC purchased a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 292,775 shares of the financial services provider's stock, valued at approximately $48,481,000. Nuveen LLC owned about 0.07% of Interactive Brokers Group at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new position in shares of Interactive Brokers Group during the 1st quarter valued at $26,000. City Holding Co. bought a new stake in shares of Interactive Brokers Group during the first quarter valued at approximately $33,000. Nvwm LLC bought a new position in shares of Interactive Brokers Group in the first quarter valued at approximately $33,000. ASR Vermogensbeheer N.V. acquired a new stake in Interactive Brokers Group during the first quarter valued at approximately $33,000. Finally, Bellwether Advisors LLC acquired a new stake in Interactive Brokers Group during the fourth quarter valued at approximately $35,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the sale, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. The trade was a 29.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 233,972 shares of company stock worth $15,746,449. 2.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on IBKR. Citigroup upped their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler increased their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group increased their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Barclays increased their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Interactive Brokers Group currently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Down 0.4%

NASDAQ IBKR traded down $0.2520 during midday trading on Tuesday, hitting $63.3880. The company had a trading volume of 1,123,585 shares, compared to its average volume of 7,088,233. The stock has a market cap of $107.51 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 2.58 and a beta of 1.22. The firm has a fifty day simple moving average of $59.19 and a two-hundred day simple moving average of $51.66. Interactive Brokers Group, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $68.07.

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, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business's quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business posted $1.76 EPS. As a group, equities analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

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