Wellington Management Group LLP Sells 510,373 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Wellington Management Group LLP has reduced its stake in Interactive Brokers Group by 34.2%, selling 510,373 shares to hold 983,656 shares worth approximately $162.88 million.
• Several institutional investors, including Vanguard Group Inc. and American Century Companies Inc., have increased their positions in Interactive Brokers Group, indicating a positive outlook from multiple market players.
• Interactive Brokers recently announced a quarterly dividend of $0.08 per share, with a payout ratio of 16.49%, and the stock currently has a consensus rating of "Moderate Buy" from analysts.

Wellington Management Group LLP trimmed its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 34.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 983,656 shares of the financial services provider's stock after selling 510,373 shares during the period. Wellington Management Group LLP owned approximately 0.23% of Interactive Brokers Group worth $162,884,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Interactive Brokers Group during the 1st quarter worth about $26,000. City Holding Co. acquired a new stake in shares of Interactive Brokers Group during the 1st quarter worth approximately $33,000. Nvwm LLC acquired a new stake in shares of Interactive Brokers Group during the 1st quarter worth approximately $33,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of Interactive Brokers Group during the 1st quarter worth approximately $33,000. Finally, Bellwether Advisors LLC bought a new position in Interactive Brokers Group during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 23.80% of the company's stock.

Insider Activity at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the transaction, the insider owned 461,500 shares in the company, valued at $31,146,635. The trade was a 29.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 233,972 shares of company stock worth $15,746,449. Company insiders own 2.97% of the company's stock.

Interactive Brokers Group Trading Up 0.9%

NASDAQ IBKR traded up $0.54 during trading on Tuesday, hitting $63.30. 12,306,868 shares of the company's stock were exchanged, compared to its average volume of 4,232,727. The company has a market cap of $107.37 billion, a PE ratio of 32.54, a P/E/G ratio of 2.56 and a beta of 1.22. The stock's 50 day moving average price is $60.53 and its two-hundred day moving average price is $51.93. Interactive Brokers Group, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. The firm's revenue was up 14.7% compared to the same quarter last year. Analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be issued 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 is Friday, August 29th. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IBKR shares. The Goldman Sachs Group lifted their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Barclays boosted their price target 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. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler upped their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Citigroup upped their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.38.

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.