Resona Asset Management Co. Ltd. Makes New $5.44 Million Investment in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Resona Asset Management has made a new investment of approximately $5.44 million in Interactive Brokers Group, acquiring 32,882 shares.
• Interactive Brokers reported strong earnings, with an EPS of $0.51 and revenue of $1.48 billion, surpassing analysts' expectations.
• The company recently declared a quarterly dividend of $0.08 per share, reflecting an annualized yield of 0.5% with a payout ratio of 16.49%.

Resona Asset Management Co. Ltd. bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 32,882 shares of the financial services provider's stock, valued at approximately $5,441,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Interactive Brokers Group by 2.8% during the first quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider's stock worth $1,714,108,000 after acquiring an additional 280,004 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Interactive Brokers Group by 91.4% in the fourth quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock valued at $413,226,000 after purchasing an additional 1,117,186 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Interactive Brokers Group by 45.6% in the first quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider's stock valued at $184,668,000 after purchasing an additional 349,255 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Interactive Brokers Group by 53.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,084,337 shares of the financial services provider's stock valued at $191,570,000 after purchasing an additional 376,004 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Interactive Brokers Group by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 885,346 shares of the financial services provider's stock valued at $146,604,000 after purchasing an additional 132,914 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $63.31 on Friday. The stock's 50-day simple moving average is $58.94 and its 200 day simple moving average is $51.62. The company has a market cap of $107.03 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.60 and a beta of 1.22. Interactive Brokers Group, Inc. has a 52-week low of $30.01 and a 52-week high of $68.07.

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

Interactive Brokers Group Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on IBKR. 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 report on Tuesday, July 15th. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Barclays boosted their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. The Goldman Sachs Group boosted their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Citigroup boosted their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Interactive Brokers Group has a consensus rating of "Moderate Buy" and an average target price of $59.38.

Insider Activity

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the sale, the insider owned 461,500 shares in the company, valued at $31,146,635. This represents 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 at this link. Insiders sold a total of 233,972 shares of company stock valued at $15,746,449 over the last 90 days. 2.97% of the stock is currently owned by insiders.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.