QRG Capital Management Inc. Acquires 19,454 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• QRG Capital Management Inc. increased its holdings in Interactive Brokers Group, Inc. by 332.1%, acquiring 19,454 shares during the second quarter, bringing total ownership to 25,311 shares valued at approximately $1,402,000.
• Interactive Brokers reported a net margin of 9.78% and revenue of $1.48 billion in its latest quarterly earnings, surpassing analyst expectations.
• Insider selling has been notable, with the CFO and Vice Chairman selling large amounts of stock, indicating a 42.37% and 29.60% decrease in their respective holdings.

QRG Capital Management Inc. raised its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 332.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,311 shares of the financial services provider's stock after acquiring an additional 19,454 shares during the period. QRG Capital Management Inc.'s holdings in Interactive Brokers Group were worth $1,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Compound Planning Inc. grew its position in Interactive Brokers Group by 1.1% in the first quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider's stock valued at $958,000 after acquiring an additional 62 shares during the last quarter. CWM LLC grew its holdings in shares of Interactive Brokers Group by 6.6% during the first quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock worth $176,000 after purchasing an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of 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 purchasing an additional 70 shares during the last quarter. USS Investment Management Ltd grew its holdings in shares of Interactive Brokers Group by 0.4% during the first quarter. USS Investment Management Ltd now owns 20,161 shares of the financial services provider's stock worth $3,339,000 after purchasing an additional 76 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of Interactive Brokers Group by 4.1% during the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock worth $329,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $69.35 on Wednesday. Interactive Brokers Group, Inc. has a one year low of $32.82 and a one year high of $71.78. The business's 50 day simple moving average is $64.50 and its 200 day simple moving average is $54.99. The stock has a market capitalization of $117.63 billion, a PE ratio of 35.66, a PEG ratio of 2.86 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. The company's revenue was up 14.7% compared to the same quarter last year. As a group, research analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group's payout ratio is 16.49%.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 116,861 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares of the company's stock, valued at approximately $10,289,092.42. The trade was a 42.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $13,098,864.14. Following the completion of the transaction, the insider directly owned 461,500 shares in the company, 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. Over the last three months, insiders sold 1,205,683 shares of company stock worth $77,217,965. Insiders own 2.97% of the company's stock.

Wall Street Analysts Forecast Growth

IBKR has been the topic of several research reports. BMO Capital Markets initiated coverage on Interactive Brokers Group in a report on Friday, October 3rd. They set an "outperform" rating and a $82.00 price target on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Interactive Brokers Group in a report on Saturday, September 27th. Barclays boosted their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup boosted their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.47.

Interactive Brokers Group Company 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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