Oppenheimer & Co. Inc. Decreases Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Oppenheimer & Co. Inc. cut its stake in Interactive Brokers Group by 52.8% in the fourth quarter, selling 11,908 shares and leaving it with 10,666 shares worth about $686,000.
• Insider selling and analyst support were both notable: Director Lawrence E. Harris sold 26,000 shares, while several firms raised price targets, with consensus coverage sitting at a Moderate Buy and an average target of $83.25.
• Interactive Brokers reported better-than-expected quarterly earnings of $0.60 per share and raised its quarterly dividend to $0.0875 per share, even as the stock traded up slightly to $84.42.

Oppenheimer & Co. Inc. trimmed its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 52.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,666 shares of the financial services provider's stock after selling 11,908 shares during the period. Oppenheimer & Co. Inc.'s holdings in Interactive Brokers Group were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Citizens Financial Group Inc. RI raised its holdings in Interactive Brokers Group by 61.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 6,197 shares of the financial services provider's stock valued at $399,000 after buying an additional 2,361 shares during the period. New York State Teachers Retirement System raised its holdings in Interactive Brokers Group by 1.6% during the 4th quarter. New York State Teachers Retirement System now owns 278,990 shares of the financial services provider's stock valued at $17,942,000 after buying an additional 4,443 shares during the period. Precision Wealth Strategies LLC raised its holdings in Interactive Brokers Group by 8.0% during the 4th quarter. Precision Wealth Strategies LLC now owns 12,530 shares of the financial services provider's stock valued at $806,000 after buying an additional 924 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in Interactive Brokers Group by 0.5% during the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 189,450 shares of the financial services provider's stock valued at $12,184,000 after buying an additional 894 shares during the period. Finally, Simplicity Wealth LLC raised its holdings in Interactive Brokers Group by 29.9% during the 4th quarter. Simplicity Wealth LLC now owns 5,013 shares of the financial services provider's stock valued at $322,000 after buying an additional 1,153 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Insiders Place Their Bets

In related news, Director Lawrence E. Harris sold 26,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction 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. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on IBKR shares. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a report on Friday, May 1st. BMO Capital Markets increased their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Barclays upped their price objective on Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Piper Sandler upped their price objective on Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.25.

Interactive Brokers Group Trading Up 0.8%

IBKR opened at $84.42 on Friday. Interactive Brokers Group, Inc. has a 12-month low of $46.10 and a 12-month high of $87.37. The business's fifty day simple moving average is $72.20 and its 200-day simple moving average is $70.28. The company has a market capitalization of $143.21 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 2.31 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.69 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The company's revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Monday, June 1st. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio is 13.79%.

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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