TimesSquare Capital Management LLC Sells 87,845 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• TimesSquare Capital Management cut its stake in Interactive Brokers Group by 5.7% in the fourth quarter, selling 87,845 shares and leaving it with 1,457,511 shares valued at about $93.7 million.
• Wall Street sentiment remains broadly positive, with seven analysts rating IBKR a Buy and three a Hold; the consensus rating is Moderate Buy with an average target price of $83.25.
• Interactive Brokers reported solid quarterly results, beating earnings estimates with EPS of $0.60 and posting 17% year-over-year revenue growth, while also raising its quarterly dividend to $0.0875 per share.

TimesSquare Capital Management LLC decreased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,457,511 shares of the financial services provider's stock after selling 87,845 shares during the period. Interactive Brokers Group accounts for 1.4% of TimesSquare Capital Management LLC's portfolio, making the stock its 12th largest position. TimesSquare Capital Management LLC owned 0.09% of Interactive Brokers Group worth $93,733,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in Interactive Brokers Group in the third quarter valued at about $27,000. Entrust Financial LLC acquired a new position in Interactive Brokers Group in the fourth quarter valued at about $31,000. Tucker Asset Management LLC acquired a new position in Interactive Brokers Group in the fourth quarter valued at about $32,000. Blue Trust Inc. lifted its stake in Interactive Brokers Group by 236.0% in the fourth quarter. Blue Trust Inc. now owns 672 shares of the financial services provider's stock valued at $43,000 after buying an additional 472 shares during the period. Finally, Elyxium Wealth LLC acquired a new position in Interactive Brokers Group in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

IBKR has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Zacks Research lowered Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Jefferies Financial Group dropped their target price on Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a research report on Friday, May 1st. Finally, Barclays lifted their target price on Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus target price of $83.25.

Insider Buying and Selling at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the transaction, the director owned 173,482 shares of the company's stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by company insiders.

Interactive Brokers Group Stock Down 1.0%

NASDAQ:IBKR opened at $86.12 on Tuesday. The firm has a market capitalization of $146.09 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 2.40 and a beta of 1.32. Interactive Brokers Group, Inc. has a twelve month low of $49.15 and a twelve month high of $88.44. The stock's 50 day moving average price is $74.25 and its two-hundred day moving average price is $71.18.

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

Interactive Brokers Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be given a dividend of $0.0875 per share. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group's payout ratio is presently 15.09%.

About Interactive Brokers Group

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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