TD Asset Management Inc Increases Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• TD Asset Management increased its stake in Interactive Brokers Group by 3.5% in the fourth quarter, ending with 2.38 million shares valued at about $153.2 million.
• Several other large institutions also boosted or initiated positions, including Vanguard, Norges Bank, Orbis Allan Gray, and Bank of America DE, while hedge funds and institutions now own 23.8% of the company.
• Interactive Brokers recently posted better-than-expected earnings of $0.60 per share, raised its quarterly dividend to $0.0875 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $83.25.

TD Asset Management Inc lifted its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,381,961 shares of the financial services provider's stock after acquiring an additional 81,250 shares during the quarter. TD Asset Management Inc owned 0.14% of Interactive Brokers Group worth $153,184,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBKR. Vanguard Group Inc. boosted its stake in shares of Interactive Brokers Group by 26.4% during the 3rd quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock worth $3,637,234,000 after acquiring an additional 11,048,679 shares in the last quarter. Norges Bank purchased a new stake in shares of Interactive Brokers Group during the 4th quarter worth approximately $453,146,000. Orbis Allan Gray Ltd grew its position in shares of Interactive Brokers Group by 178.8% in the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock valued at $539,697,000 after purchasing an additional 6,246,715 shares during the last quarter. Bank of America Corp DE grew its position in shares of Interactive Brokers Group by 225.4% in the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock valued at $420,834,000 after purchasing an additional 5,260,923 shares during the last quarter. Finally, State Street Corp grew its position in shares of Interactive Brokers Group by 23.2% in the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider's stock valued at $1,283,221,000 after purchasing an additional 3,517,729 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Insider Transactions at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research report on Friday, May 1st. Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. BMO Capital Markets increased their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods assumed coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price target on the stock. Finally, Zacks Research lowered shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus price target of $83.25.

Interactive Brokers Group Price Performance

IBKR stock opened at $87.02 on Friday. The company's 50 day simple moving average is $78.71 and its 200-day simple moving average is $72.50. The firm has a market capitalization of $147.62 billion, a PE ratio of 37.51, a P/E/G ratio of 2.41 and a beta of 1.32. Interactive Brokers Group, Inc. has a 12 month low of $49.15 and a 12 month high of $91.02.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business earned $1.94 earnings per share. Interactive Brokers Group's revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date is Monday, June 1st. Interactive Brokers Group's dividend payout ratio (DPR) is 15.09%.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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