Public Employees Retirement System of Ohio Cuts Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• Public Employees Retirement System of Ohio reduced its stake in Interactive Brokers Group by 10.7% in the first quarter, selling 27,253 shares and leaving it with 228,301 shares worth about $15.3 million.
• Interactive Brokers reported strong quarterly results, posting earnings of $0.69 per share on revenue of $1.88 billion, both above analyst expectations, with revenue up 28.1% year over year.
• The company also announced a quarterly dividend of $0.0875 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $96.89.

Public Employees Retirement System of Ohio cut its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 228,301 shares of the financial services provider's stock after selling 27,253 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Interactive Brokers Group were worth $15,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Inceptionr LLC grew its stake in shares of Interactive Brokers Group by 82.8% in the first quarter. Inceptionr LLC now owns 15,569 shares of the financial services provider's stock worth $1,044,000 after acquiring an additional 7,053 shares in the last quarter. Aspen Grove Capital LLC raised its stake in shares of Interactive Brokers Group by 17.3% in the first quarter. Aspen Grove Capital LLC now owns 3,961 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 584 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Interactive Brokers Group by 89.5% in the first quarter. Bank of Nova Scotia now owns 275,306 shares of the financial services provider's stock valued at $18,465,000 after acquiring an additional 130,043 shares in the last quarter. Sei Investments Co. boosted its holdings in Interactive Brokers Group by 46.5% in the first quarter. Sei Investments Co. now owns 564,427 shares of the financial services provider's stock valued at $37,857,000 after purchasing an additional 179,111 shares during the period. Finally, Lido Advisors LLC boosted its holdings in Interactive Brokers Group by 102.6% in the first quarter. Lido Advisors LLC now owns 17,695 shares of the financial services provider's stock valued at $1,187,000 after purchasing an additional 8,959 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Trading Down 0.0%

Shares of IBKR stock opened at $91.74 on Friday. The company has a market cap of $155.62 billion, a P/E ratio of 36.70, a PEG ratio of 2.02 and a beta of 1.33. The firm has a fifty day moving average price of $90.09 and a 200 day moving average price of $79.44. Interactive Brokers Group, Inc. has a 12 month low of $58.95 and a 12 month high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.Interactive Brokers Group's quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. On average, equities analysts forecast that Interactive Brokers Group, Inc. will post 2.64 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be issued a $0.0875 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. Interactive Brokers Group's dividend payout ratio is presently 14.00%.

Insider Buying and Selling at Interactive Brokers Group

In other 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 approximately $13,345,970.26. This trade represents a 13.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a report on Friday, May 1st. China Renaissance initiated coverage on Interactive Brokers Group in a research note on Tuesday, July 7th. They issued a "hold" rating for the company. Barclays set a $114.00 price objective on Interactive Brokers Group and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler set a $109.00 price objective on Interactive Brokers Group in a research report on Wednesday. Finally, BMO Capital Markets restated an "outperform" rating and set a $110.00 target price (up from $105.00) on shares of Interactive Brokers Group in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.89.

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.

Want to see what other hedge funds are holding IBKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.