Titan Wealth CI Ltd Acquires Shares of 111,457 Interactive Brokers Group, Inc. $IBKR

Key Points

• Titan Wealth CI Ltd disclosed a new fourth-quarter stake in Interactive Brokers Group, buying 111,457 shares worth about $7.17 million. The position makes IBKR about 2.8% of its holdings.
• Several other institutional investors also added to their IBKR positions, and 23.8% of the company’s stock is now owned by hedge funds and other institutions. Meanwhile, director Lawrence E. Harris sold 26,000 shares in late April.
• Analysts remain generally constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $85.22. The company also recently beat quarterly EPS estimates and raised its dividend to $0.0875 per share quarterly.

Titan Wealth CI Ltd acquired a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 111,457 shares of the financial services provider's stock, valued at approximately $7,168,000. Interactive Brokers Group comprises approximately 2.8% of Titan Wealth CI Ltd's holdings, making the stock its 21st largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. boosted its position in Interactive Brokers Group by 64.3% in the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock valued at $29,000 after buying an additional 178 shares during the last quarter. Entrust Financial LLC purchased a new position in Interactive Brokers Group in the 4th quarter valued at about $31,000. Tucker Asset Management LLC acquired a new stake in shares of Interactive Brokers Group in the 4th quarter valued at about $32,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Interactive Brokers Group in the 4th quarter valued at about $33,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Interactive Brokers Group in the 4th quarter valued at about $34,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the 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 sale, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IBKR shares. Barclays upped their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. BMO Capital Markets upped their target price on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Zacks Research lowered shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Piper Sandler upped their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods started coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.22.

Interactive Brokers Group Stock Up 0.4%

IBKR opened at $93.10 on Wednesday. The company's 50-day moving average price is $82.22 and its 200 day moving average price is $73.95. The firm has a market cap of $157.93 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 2.56 and a beta of 1.32. Interactive Brokers Group, Inc. has a fifty-two week low of $49.30 and a fifty-two week high of $94.73.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the firm earned $1.94 EPS. Research 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 was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were given a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. Interactive Brokers Group's payout ratio is currently 15.09%.

Interactive Brokers Group 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.

Want to see what other hedge funds are holding IBKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.