State of Alaska Department of Revenue Has $2.72 Million Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• The State of Alaska Department of Revenue increased its stake in Interactive Brokers Group by 284.3% in Q2, bringing its holdings to a value of $2.72 million.
• Insider sales included CFO Paul Jonathan Brody selling 116,861 shares for over $7.5 million, representing a 42.37% decrease in his position.
• Interactive Brokers recently announced a quarterly dividend of $0.08 per share, yielding 0.5% with a payout ratio of 16.49%.

State of Alaska Department of Revenue increased its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 284.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,024 shares of the financial services provider's stock after purchasing an additional 36,268 shares during the quarter. State of Alaska Department of Revenue's holdings in Interactive Brokers Group were worth $2,716,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Meyer Handelman Co. raised its position in shares of Interactive Brokers Group by 300.0% in the second quarter. Meyer Handelman Co. now owns 6,800 shares of the financial services provider's stock valued at $377,000 after purchasing an additional 5,100 shares during the period. Maridea Wealth Management LLC bought a new position in shares of Interactive Brokers Group in the second quarter valued at approximately $524,000. Retirement Guys Formula LLC bought a new position in shares of Interactive Brokers Group in the second quarter valued at approximately $210,000. TD Private Client Wealth LLC raised its position in shares of Interactive Brokers Group by 217.8% in the second quarter. TD Private Client Wealth LLC now owns 60,116 shares of the financial services provider's stock valued at $3,331,000 after purchasing an additional 41,199 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Interactive Brokers Group by 397.3% in the second quarter. Public Employees Retirement System of Ohio now owns 281,554 shares of the financial services provider's stock valued at $15,601,000 after purchasing an additional 224,932 shares during the period. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 116,861 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at approximately $10,289,092.42. This represents a 42.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,205,683 shares of company stock worth $77,217,965. Corporate insiders own 2.97% of the company's stock.

Interactive Brokers Group Price Performance

IBKR opened at $68.78 on Thursday. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $70.49. The firm's fifty day moving average price is $64.11 and its two-hundred day moving average price is $54.19. The company has a market capitalization of $116.66 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.80 and a beta of 1.22.

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

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IBKR. Citigroup lifted 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 report on Saturday, June 21st. Barclays boosted their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Piper Sandler boosted their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.38.

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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