Western Financial Corp CA Purchases 18,396 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Western Financial Corp CA significantly increased its holdings in Interactive Brokers Group by 306.5%, acquiring an additional 18,396 shares to reach a total of 24,398 shares valued at approximately $1.35 million.
• Interactive Brokers Group reported earnings of $0.51 EPS, exceeding analyst expectations of $0.46 EPS, with quarterly revenue rising by 14.7% to $1.48 billion.
• The firm announced a quarterly dividend of $0.08 per share, resulting in an annualized dividend yield of 0.5%, and a current dividend payout ratio of 16.49%.

Western Financial Corp CA lifted its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 306.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,398 shares of the financial services provider's stock after purchasing an additional 18,396 shares during the period. Western Financial Corp CA's holdings in Interactive Brokers Group were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. LVW Advisors LLC increased its stake in Interactive Brokers Group by 187.5% during the 2nd quarter. LVW Advisors LLC now owns 17,982 shares of the financial services provider's stock worth $996,000 after acquiring an additional 11,727 shares during the period. Formidable Asset Management LLC lifted its holdings in Interactive Brokers Group by 158.0% during the 2nd quarter. Formidable Asset Management LLC now owns 13,284 shares of the financial services provider's stock worth $736,000 after buying an additional 8,136 shares during the period. Signaturefd LLC lifted its holdings in Interactive Brokers Group by 300.0% during the 2nd quarter. Signaturefd LLC now owns 3,416 shares of the financial services provider's stock worth $189,000 after buying an additional 2,562 shares during the period. ORG Partners LLC raised its position in shares of Interactive Brokers Group by 312.9% in the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider's stock worth $27,000 after acquiring an additional 363 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Interactive Brokers Group by 284.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 49,024 shares of the financial services provider's stock valued at $2,716,000 after buying an additional 36,268 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

NASDAQ IBKR opened at $66.12 on Friday. The stock has a market capitalization of $112.15 billion, a PE ratio of 33.99, a PEG ratio of 2.64 and a beta of 1.23. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $68.07. The business's 50-day moving average is $63.74 and its 200 day moving average is $53.63.

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

Interactive Brokers Group Dividend Announcement

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

Insider Buying and Selling

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares of the company's stock, valued at $10,289,092.42. This represents a 42.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,174,329 shares of company stock valued at $75,169,366 in the last ninety days. Insiders own 2.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays boosted their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Piper Sandler increased their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Citigroup upped their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.38.

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.

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