Sciencast Management LP Takes Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Sciencast Management LP has acquired a new stake in Interactive Brokers Group, purchasing 12,631 shares valued at approximately $2.1 million.
• Several hedge funds significantly increased their positions in Interactive Brokers during the first quarter, with American Century Companies boosting its stake by 1,476.3%.
• Analyst ratings for Interactive Brokers are generally positive, with seven analysts giving it a buy rating and a consensus target price of $59.38.

Sciencast Management LP acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,631 shares of the financial services provider's stock, valued at approximately $2,092,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 valued at $1,714,108,000 after purchasing an additional 280,004 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Interactive Brokers Group by 1,476.3% in the first 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Interactive Brokers Group by 13.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider's stock valued at $203,710,000 after acquiring an additional 145,870 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Interactive Brokers Group by 45.6% during the 1st quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider's stock worth $184,668,000 after acquiring an additional 349,255 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Interactive Brokers Group by 8.7% in the 1st quarter. Northern Trust Corp now owns 952,772 shares of the financial services provider's stock worth $157,770,000 after acquiring an additional 76,283 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

IBKR has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Citigroup upped their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler increased their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays increased their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Up 0.6%

Shares of IBKR traded up $0.36 during midday trading on Friday, reaching $63.70. 3,383,909 shares of the stock were exchanged, compared to its average volume of 7,524,558. The company has a market cap of $108.04 billion, a price-to-earnings ratio of 32.75, a P/E/G ratio of 2.54 and a beta of 1.23. The firm has a 50 day simple moving average of $62.61 and a 200-day simple moving average of $52.43. Interactive Brokers Group, Inc. has a 12-month low of $31.07 and a 12-month high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted 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. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The company's revenue was up 14.7% compared to the same quarter last year. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be issued a dividend of $0.08 per share. 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 dividend payout ratio is currently 16.49%.

Insider Activity at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the business's stock in a transaction 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 sale, the insider directly owned 461,500 shares in the company, valued at approximately $31,146,635. The trade was a 29.60% 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, CFO Paul Jonathan Brody sold 107,493 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $61.87, for a total transaction of $6,650,591.91. Following the transaction, the chief financial officer directly owned 892,507 shares of the company's stock, valued at approximately $55,219,408.09. This represents a 10.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 446,371 shares of company stock worth $28,954,715. Corporate insiders own 2.97% of the company's stock.

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.