TD Asset Management Inc Purchases 79,294 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• TD Asset Management Inc increased its stake in Interactive Brokers Group by 312.8%, acquiring an additional 79,294 shares in the second quarter, bringing its total ownership to 104,644 shares valued at approximately $5.8 million.
• Equities analysts have set various price targets for the stock, with Goldman Sachs maintaining a "buy" rating and a target price of $91.00, while Zacks lowered its rating from "strong-buy" to "hold."
• Interactive Brokers Group recently reported an EPS of $0.57, exceeding the consensus estimate, and announced a quarterly dividend of $0.08 per share, set to be paid on December 12th.

TD Asset Management Inc raised its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 312.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,644 shares of the financial services provider's stock after buying an additional 79,294 shares during the quarter. TD Asset Management Inc's holdings in Interactive Brokers Group were worth $5,798,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IBKR. N.E.W. Advisory Services LLC acquired a new position in shares of Interactive Brokers Group during the 1st quarter worth about $26,000. ORG Partners LLC grew its position in shares of Interactive Brokers Group by 312.9% during the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider's stock worth $27,000 after buying an additional 363 shares during the period. Contravisory Investment Management Inc. grew its position in shares of Interactive Brokers Group by 300.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider's stock worth $31,000 after buying an additional 423 shares during the period. Nvwm LLC acquired a new position in shares of Interactive Brokers Group during the 1st quarter worth about $33,000. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Interactive Brokers Group during the 1st quarter worth about $33,000. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the company's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the sale, the chief financial officer owned 28,289 shares in the company, valued at $1,860,850.42. This represents a 37.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 1,205,683 shares of company stock worth $77,217,965. Corporate insiders own 2.97% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IBKR shares. The Goldman Sachs Group restated a "buy" rating and set a $91.00 target price on shares of Interactive Brokers Group in a research report on Friday. BMO Capital Markets boosted their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the company an "outperform" rating in a research report on Friday. Zacks Research lowered Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Interactive Brokers Group in a research report on Tuesday, October 14th. Finally, Citigroup boosted their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group has an average rating of "Moderate Buy" and an average price target of $71.34.

Interactive Brokers Group Stock Performance

NASDAQ IBKR opened at $66.23 on Monday. The stock has a market capitalization of $112.34 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.66 and a beta of 1.22. The stock's 50 day moving average price is $65.30 and its two-hundred day moving average price is $56.59. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 EPS. On average, equities research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, December 1st. 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 15.38%.

Interactive Brokers Group 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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