PFG Investments LLC Acquires 10,256 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• PFG Investments LLC increased its holdings in Interactive Brokers Group by 309.7% during the second quarter, acquiring an additional 10,256 shares and bringing its total to 13,568 shares valued at approximately $752,000.
• A number of recent analyst ratings upgrades have set new price targets for Interactive Brokers Group, with Piper Sandler raising their target from $45.50 to $65.00, while BMO Capital Markets sets the target at $82.00.
• Insider transactions reported show that CFO Paul Jonathan Brody sold 116,861 shares and Vice Chairman Earl H. Nemser sold 194,086 shares recently, indicating a significant decrease in their ownership positions.

PFG Investments LLC boosted its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 309.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,568 shares of the financial services provider's stock after purchasing an additional 10,256 shares during the quarter. PFG Investments LLC's holdings in Interactive Brokers Group were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Thrive Wealth Management LLC raised its position in shares of Interactive Brokers Group by 13.7% in the first quarter. Thrive Wealth Management LLC now owns 2,528 shares of the financial services provider's stock valued at $419,000 after buying an additional 305 shares in the last quarter. Vest Financial LLC acquired a new position in Interactive Brokers Group in the 1st quarter valued at $1,459,000. UMB Bank n.a. raised its holdings in Interactive Brokers Group by 136.3% in the 1st quarter. UMB Bank n.a. now owns 1,153 shares of the financial services provider's stock valued at $191,000 after acquiring an additional 665 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Interactive Brokers Group by 6.4% during the 1st quarter. First Citizens Bank & Trust Co. now owns 2,544 shares of the financial services provider's stock valued at $421,000 after acquiring an additional 154 shares during the period. Finally, City Holding Co. acquired a new stake in shares of Interactive Brokers Group during the 1st quarter worth $33,000. Institutional investors and hedge funds own 23.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on IBKR shares. Piper Sandler boosted their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. BMO Capital Markets initiated coverage on shares of Interactive Brokers Group in a report on Friday. They issued an "outperform" rating and a $82.00 target price on the stock. Barclays boosted their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Citigroup increased their price target 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, Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.47.

Insider Transactions at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 116,861 shares of Interactive Brokers Group stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the sale, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This trade represents a 42.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the company'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 transaction, the insider owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,205,683 shares of company stock valued at $77,217,965. Insiders own 2.97% of the company's stock.

Interactive Brokers Group Trading Down 0.8%

Shares of Interactive Brokers Group stock opened at $70.36 on Friday. The firm's 50 day moving average is $64.33 and its 200 day moving average is $54.56. The firm has a market capitalization of $119.34 billion, a PE ratio of 36.17, a price-to-earnings-growth ratio of 2.91 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $71.78.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The firm 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 company's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $1.76 earnings per share. As a group, research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, September 1st were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's payout ratio is currently 16.49%.

Interactive Brokers Group Profile

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.

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