Sagespring Wealth Partners LLC Acquires 4,774 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Sagespring Wealth Partners LLC significantly increased its stake in Interactive Brokers Group by 296.7%, acquiring an additional 4,774 shares to reach a total of 6,383 shares valued at $354,000.
• Several institutional investors have also made substantial increases to their holdings in Interactive Brokers, with American Century Companies Inc. boosting its position by 1,476.3% during the first quarter.
• The company recently reported a quarterly earnings per share of $0.57, surpassing analysts' estimates, and announced a $0.08 quarterly dividend payable in December.

Sagespring Wealth Partners LLC lifted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 296.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,383 shares of the financial services provider's stock after purchasing an additional 4,774 shares during the period. Sagespring Wealth Partners LLC's holdings in Interactive Brokers Group were worth $354,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Interactive Brokers Group by 1,476.3% in the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after buying an additional 1,343,007 shares during the period. RV Capital AG raised its stake in shares of Interactive Brokers Group by 300.0% during the second quarter. RV Capital AG now owns 849,920 shares of the financial services provider's stock valued at $47,094,000 after acquiring an additional 637,440 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Interactive Brokers Group by 244.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 780,044 shares of the financial services provider's stock valued at $43,932,000 after purchasing an additional 553,752 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Interactive Brokers Group by 283.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 516,526 shares of the financial services provider's stock worth $28,621,000 after purchasing an additional 381,656 shares in the last quarter. Finally, KBC Group NV increased its holdings in Interactive Brokers Group by 255.1% during the 1st quarter. KBC Group NV now owns 522,221 shares of the financial services provider's stock worth $86,474,000 after purchasing an additional 375,173 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Interactive Brokers Group in a report on Tuesday. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. BMO Capital Markets increased their target price on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Friday. Piper Sandler set a $80.00 target price on shares of Interactive Brokers Group and gave the company an "overweight" rating in a research report on Tuesday. Finally, Zacks Research cut shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.34.

Interactive Brokers Group Stock Down 3.3%

IBKR stock opened at $66.23 on Friday. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $73.35. The firm has a market cap of $112.34 billion, a P/E ratio of 31.80, a PEG ratio of 2.80 and a beta of 1.22. The company's 50-day simple moving average is $65.30 and its 200-day simple moving average is $56.38.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.47 billion. Interactive Brokers Group had a return on equity of 5.17% and a net margin of 10.12%.Interactive Brokers Group's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. On average, 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

Insider Buying and Selling

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the company's stock in a transaction on Friday, September 26th. The shares were sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the completion of the transaction, the chief financial officer directly owned 28,289 shares in the company, valued at approximately $1,860,850.42. This represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 1,205,683 shares of company stock valued at $77,217,965. 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.

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