TD Asset Management Inc Grows Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• TD Asset Management Inc increased its stake in Interactive Brokers Group by 35.2% in the 1st quarter, acquiring an additional 6,601 shares, bringing its total holdings to 25,350 shares valued at approximately $4.2 million.
• Interactive Brokers Group reported a 14.7% year-over-year increase in revenue for the last quarter, totaling $1.48 billion, and beat EPS estimates by $0.05 with an EPS of $0.51.
• The firm announced a quarterly dividend of $0.08 per share, with an upcoming payout date on September 12th, resulting in an annualized yield of 0.5%.

TD Asset Management Inc boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 35.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,350 shares of the financial services provider's stock after acquiring an additional 6,601 shares during the quarter. TD Asset Management Inc's holdings in Interactive Brokers Group were worth $4,198,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBKR. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Interactive Brokers Group by 151.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261 shares of the financial services provider's stock worth $48,000 after buying an additional 157 shares in the last quarter. Private Advisor Group LLC grew its stake in Interactive Brokers Group by 176.2% during the 1st quarter. Private Advisor Group LLC now owns 4,762 shares of the financial services provider's stock valued at $789,000 after acquiring an additional 3,038 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new stake in Interactive Brokers Group in the 4th quarter valued at about $242,000. Arrowstreet Capital Limited Partnership purchased a new position in Interactive Brokers Group in the 4th quarter worth approximately $12,015,000. Finally, Kennondale Capital Management LLC boosted its holdings in shares of Interactive Brokers Group by 172.7% during the 1st quarter. Kennondale Capital Management LLC now owns 19,419 shares of the financial services provider's stock worth $3,216,000 after purchasing an additional 12,299 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 39,786 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $66.38, for a total transaction of $2,640,994.68. Following the completion of the transaction, the insider owned 360,114 shares in the company, valued at $23,904,367.32. The trade was a 9.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.97% of the company's stock.

Interactive Brokers Group Trading Down 0.4%

IBKR traded down $0.26 during trading hours on Wednesday, hitting $63.45. 1,546,684 shares of the company's stock were exchanged, compared to its average volume of 7,279,829. Interactive Brokers Group, Inc. has a 12-month low of $28.05 and a 12-month high of $66.82. The firm has a market cap of $107.26 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 2.68 and a beta of 1.22. The firm has a 50 day moving average of $56.91 and a 200 day moving average of $50.87.

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

Interactive Brokers Group Announces Dividend

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

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.