Truist Financial Corp Boosts Stock Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Truist Financial Corp significantly increased its stake in Interactive Brokers Group, acquiring an additional 142,662 shares, which boosted its total holdings by 237.8% to 202,665 shares valued at approximately $11.23 million.
• Several institutional investors, including Goldman Sachs and Thrive Wealth Management, also increased their positions in Interactive Brokers Group during the same period, highlighting a trend of growing interest in the stock.
• Analysts have mixed views on Interactive Brokers, with ratings ranging from "Strong Buy" to "Hold" and price targets varying from $45.50 to $82.00, reflecting differing opinions on the company's future performance.

Truist Financial Corp boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 237.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,665 shares of the financial services provider's stock after purchasing an additional 142,662 shares during the quarter. Truist Financial Corp's holdings in Interactive Brokers Group were worth $11,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IBKR. Goldman Sachs Group Inc. grew its position in shares of Interactive Brokers Group by 50.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider's stock worth $98,886,000 after acquiring an additional 199,467 shares in the last quarter. Thrive Wealth Management LLC increased its holdings in shares of Interactive Brokers Group by 243.8% in the 2nd quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider's stock valued at $482,000 after acquiring an additional 6,163 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Interactive Brokers Group by 1,093.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider's stock valued at $409,000 after acquiring an additional 6,760 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Interactive Brokers Group by 19.5% in the 1st quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider's stock valued at $7,839,000 after acquiring an additional 7,734 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of Interactive Brokers Group by 300.0% in the 2nd quarter. Swedbank AB now owns 34,080 shares of the financial services provider's stock valued at $1,888,000 after acquiring an additional 25,560 shares during the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer directly owned 28,289 shares of the company's stock, valued at $1,860,850.42. This represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 1,205,683 shares of company stock worth $77,217,965 over the last three months. Corporate insiders own 2.97% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IBKR shares. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Barclays boosted their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Piper Sandler boosted their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, BMO Capital Markets started coverage on Interactive Brokers Group in a report on Friday. They issued an "outperform" rating and a $82.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.47.

Interactive Brokers Group Stock Performance

IBKR opened at $70.36 on Friday. Interactive Brokers Group, Inc. has a one year low of $32.82 and a one year high of $71.78. The stock's fifty day moving average is $64.33 and its 200-day moving average is $54.63. The company has a market capitalization of $119.34 billion, a PE ratio of 36.17, a P/E/G ratio of 2.89 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business earned $1.76 EPS. The company's quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 29th. Interactive Brokers Group's dividend payout ratio is currently 16.49%.

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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