QRG Capital Management Inc. Has $5.96 Million Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• QRG Capital Management increased its stake in Interactive Brokers Group by 240.4% in the first quarter, ending with 88,799 shares valued at about $5.96 million.
• Interactive Brokers reported Q1 earnings of $0.60 per share, topping estimates, while revenue rose 17% year over year to $1.68 billion.
• The company raised its quarterly dividend to $0.0875 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $85.22.

QRG Capital Management Inc. raised its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 240.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,799 shares of the financial services provider's stock after acquiring an additional 62,711 shares during the quarter. QRG Capital Management Inc.'s holdings in Interactive Brokers Group were worth $5,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Reflection Asset Management acquired a new stake in shares of Interactive Brokers Group in the fourth quarter valued at about $26,000. IMA Advisory Services Inc. boosted its position in Interactive Brokers Group by 64.3% during the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 178 shares during the last quarter. Tobam acquired a new position in Interactive Brokers Group during the fourth quarter valued at approximately $30,000. Entrust Financial LLC acquired a new position in Interactive Brokers Group during the fourth quarter valued at approximately $31,000. Finally, SHP Wealth Management bought a new position in Interactive Brokers Group in the fourth quarter valued at approximately $31,000. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the transaction, the director owned 173,482 shares of the company's stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company's stock.

Interactive Brokers Group Stock Performance

Interactive Brokers Group stock opened at $91.33 on Monday. The stock has a 50-day simple moving average of $86.64 and a 200 day simple moving average of $76.50. The stock has a market capitalization of $154.93 billion, a P/E ratio of 39.37, a PEG ratio of 2.52 and a beta of 1.33. Interactive Brokers Group, Inc. has a 52 week low of $56.33 and a 52 week high of $97.84.

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

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were issued a $0.0875 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. Interactive Brokers Group's payout ratio is presently 15.09%.

Analyst Ratings Changes

IBKR has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. BMO Capital Markets increased their price objective on Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research note on Friday, May 1st. Keefe, Bruyette & Woods began coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 target price on the stock. Finally, Jefferies Financial Group dropped their price target on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $85.22.

Interactive Brokers Group Company 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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