United Services Automobile Association Takes $1.17 Million Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• United Services Automobile Association has invested approximately $1.17 million in Interactive Brokers Group by acquiring 7,084 shares during the first quarter.
• A number of analysts have increased their price targets for Interactive Brokers Group, with Citigroup raising it to $60.00 and Barclays to $73.00, reflecting a bullish sentiment on the stock.
• The company declared a quarterly dividend of $0.08 per share, with an upcoming ex-dividend date on August 29th and a payout ratio of 16.49%.

United Services Automobile Association acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,084 shares of the financial services provider's stock, valued at approximately $1,167,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in Interactive Brokers Group during the 1st quarter worth $26,000. City Holding Co. bought a new stake in Interactive Brokers Group during the 1st quarter worth $33,000. Nvwm LLC bought a new stake in Interactive Brokers Group during the 1st quarter worth $33,000. ASR Vermogensbeheer N.V. bought a new stake in Interactive Brokers Group during the 1st quarter worth $33,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Interactive Brokers Group during the 1st quarter worth $43,000. Institutional investors own 23.80% of the company's stock.

Analysts Set New Price Targets

IBKR has been the topic of a number of research reports. Barclays boosted their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. The Goldman Sachs Group upped their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Citigroup upped their price target 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. Piper Sandler upped their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.38.

Insider Activity at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 104,906 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $62.51, for a total value of $6,557,674.06. Following the completion of the sale, the chief financial officer directly owned 787,601 shares of the company's stock, valued at $49,232,938.51. This represents a 11.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the sale, the insider directly owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 446,371 shares of company stock valued at $28,954,715. Company insiders own 2.97% of the company's stock.

Interactive Brokers Group Trading Up 0.6%

IBKR stock traded up $0.36 during trading on Friday, reaching $63.70. 3,395,904 shares of the stock were exchanged, compared to its average volume of 7,529,930. The firm's 50 day moving average is $62.61 and its 200 day moving average is $52.43. Interactive Brokers Group, Inc. has a twelve month low of $31.07 and a twelve month high of $68.07. The firm has a market cap of $108.04 billion, a P/E ratio of 32.75, a price-to-earnings-growth ratio of 2.54 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 EPS. As a group, analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

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