Ritholtz Wealth Management Purchases 6,566 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Ritholtz Wealth Management increased its stake in Interactive Brokers Group by 330.4% during the second quarter, acquiring an additional 6,566 shares to bring its total holdings to 8,553 shares, valued at $474,000.
• Interactive Brokers reported a $0.57 EPS for its latest quarter, exceeding analysts' predictions by $0.08, with a year-over-year revenue increase of 21.2%.
• The company announced a quarterly dividend of $0.08 per share, to be paid on December 12, 2023, reflecting an annualized dividend yield of 0.5%.

Ritholtz Wealth Management grew its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 330.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,553 shares of the financial services provider's stock after buying an additional 6,566 shares during the quarter. Ritholtz Wealth Management's holdings in Interactive Brokers Group were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in Interactive Brokers Group in the 1st quarter worth $26,000. Nvwm LLC bought a new position in Interactive Brokers Group in the 1st quarter worth $33,000. ASR Vermogensbeheer N.V. bought a new position in Interactive Brokers Group in the 1st quarter worth $33,000. North Capital Inc. bought a new position in Interactive Brokers Group in the 1st quarter worth $49,000. Finally, Quarry LP raised its holdings in Interactive Brokers Group by 486.3% in the 1st quarter. Quarry LP now owns 299 shares of the financial services provider's stock worth $50,000 after purchasing an additional 248 shares during the period. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Down 3.3%

NASDAQ:IBKR opened at $66.23 on Monday. The business's 50-day simple moving average is $65.30 and its two-hundred day simple moving average is $56.59. The stock has a market cap of $112.34 billion, a PE ratio of 31.80, a P/E/G ratio of 2.66 and a beta of 1.22. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.08. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business's quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.61 earnings per share. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is presently 15.38%.

Insider Transactions at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 116,861 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the transaction, the chief financial officer owned 158,954 shares in the company, valued at $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 461,500 shares of the company's stock, valued at approximately $31,146,635. The trade was a 29.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,205,683 shares of company stock valued at $77,217,965. Company insiders own 2.97% of the company's stock.

Analyst Ratings Changes

IBKR has been the topic of a number of recent research reports. Zacks Research cut Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 2nd. Piper Sandler set a $80.00 target price on Interactive Brokers Group and gave the stock an "overweight" rating in a report on Tuesday, October 14th. BMO Capital Markets raised their target price on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Friday. Citigroup raised 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Interactive Brokers Group currently has an average rating of "Moderate Buy" and a consensus target price of $71.34.

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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