Orbis Allan Gray Ltd Cuts Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Orbis Allan Gray Ltd has reduced its stake in Interactive Brokers Group by 33.9%, holding approximately $578.47 million, representing 3.3% of its investment portfolio.
• Several large investors, including Stony Point Capital LLC and Vident Advisory LLC, have increased their stakes in Interactive Brokers Group during the first quarter.
• Interactive Brokers Group announced a quarterly dividend of $0.08 per share, with a 0.5% yield and a payout ratio of 16.49%.

Orbis Allan Gray Ltd reduced its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,493,357 shares of the financial services provider's stock after selling 1,792,148 shares during the period. Interactive Brokers Group accounts for about 3.3% of Orbis Allan Gray Ltd's holdings, making the stock its 5th biggest holding. Orbis Allan Gray Ltd owned approximately 0.83% of Interactive Brokers Group worth $578,465,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Compound Planning Inc. raised its position in shares of Interactive Brokers Group by 1.1% during the 1st quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider's stock valued at $958,000 after buying an additional 62 shares during the period. CWM LLC grew its position in Interactive Brokers Group by 6.6% in the first quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock worth $176,000 after acquiring an additional 66 shares during the period. Crossmark Global Holdings Inc. increased its stake in Interactive Brokers Group by 0.8% during the first quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock worth $1,410,000 after acquiring an additional 70 shares during the last quarter. Ritholtz Wealth Management raised its position in Interactive Brokers Group by 4.1% in the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 79 shares during the period. Finally, Joel Isaacson & Co. LLC lifted its stake in shares of Interactive Brokers Group by 3.3% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider's stock valued at $411,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Stock Performance

NASDAQ IBKR traded up $1.66 on Tuesday, reaching $63.90. The stock had a trading volume of 7,336,541 shares, compared to its average volume of 7,625,720. Interactive Brokers Group, Inc. has a 12-month low of $30.01 and a 12-month high of $68.07. The business's 50-day moving average price is $61.37 and its 200 day moving average price is $52.03. The stock has a market cap of $108.38 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 2.54 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. Interactive Brokers Group's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 EPS. On average, sell-side analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

Insiders Place Their Bets

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 461,500 shares in the company, valued at $31,146,635. The trade was a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 233,972 shares of company stock worth $15,746,449 over the last quarter. Company insiders own 2.97% of the company's stock.

Analyst Ratings Changes

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

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.