Vanguard Group Inc. Increases Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Vanguard Group Inc. increased its stake in Interactive Brokers Group by 2.8%, acquiring an additional 280,004 shares, bringing its total ownership to 10,351,521 shares valued at approximately $1.71 billion.
• Multiple hedge funds, including Private Advisor Group LLC and Kennondale Capital Management LLC, have significantly increased their stakes in Interactive Brokers during the first quarter, indicating growing institutional interest.
• The stock has recently seen a price target adjustment from various analysts, with Bank of America lowering its target to $60.75 while Piper Sandler raised it to $65.00, resulting in an overall consensus rating of "Moderate Buy."

Vanguard Group Inc. increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,351,521 shares of the financial services provider's stock after purchasing an additional 280,004 shares during the quarter. Vanguard Group Inc. owned 2.45% of Interactive Brokers Group worth $1,714,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBKR. CWM LLC grew its position in shares of Interactive Brokers Group by 6.6% during the first quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock worth $176,000 after purchasing an additional 66 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Interactive Brokers Group by 0.8% during the first quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock worth $1,410,000 after purchasing an additional 70 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Interactive Brokers Group by 4.1% during the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock worth $329,000 after purchasing an additional 79 shares in the last quarter. Joel Isaacson & Co. LLC grew its position in shares of Interactive Brokers Group by 3.3% during the first quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider's stock worth $411,000 after purchasing an additional 79 shares in the last quarter. Finally, Securian Asset Management Inc. grew its position in shares of Interactive Brokers Group by 1.2% during the first quarter. Securian Asset Management Inc. now owns 8,331 shares of the financial services provider's stock worth $1,380,000 after purchasing an additional 100 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup increased their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler increased their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays increased their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group increased their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 39,786 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $66.38, for a total transaction of $2,640,994.68. Following the completion of the sale, the insider directly owned 360,114 shares of the company's stock, valued at approximately $23,904,367.32. This trade represents a 9.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.97% of the company's stock.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR traded up $0.35 during trading on Thursday, hitting $63.84. The company had a trading volume of 1,978,751 shares, compared to its average volume of 7,165,650. The stock has a market cap of $107.92 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.76 and a beta of 1.22. Interactive Brokers Group, Inc. has a one year low of $29.87 and a one year high of $68.07. The company has a fifty day simple moving average of $58.49 and a two-hundred day simple moving average of $51.46.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (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 firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $1.76 EPS. Interactive Brokers Group's quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 29th. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

About Interactive Brokers Group

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.