Y Intercept Hong Kong Ltd Buys Shares of 65,834 Interactive Brokers Group, Inc. $IBKR

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter stake in Interactive Brokers Group, buying 65,834 shares valued at about $4.4 million.
• Other institutional investors also increased their holdings, and institutions now own 23.80% of the company, though insider ownership is only 2.80%.
• Interactive Brokers reported better-than-expected Q1 earnings with EPS of $0.60 versus $0.57 expected, and it recently raised its quarterly dividend to $0.0875 per share.

Y Intercept Hong Kong Ltd purchased a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 65,834 shares of the financial services provider's stock, valued at approximately $4,415,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IBKR. AQR Capital Management LLC lifted its holdings in Interactive Brokers Group by 24.7% in the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider's stock valued at $2,269,000 after acquiring an additional 2,713 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Interactive Brokers Group by 307.9% during the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider's stock worth $803,000 after purchasing an additional 10,943 shares during the period. Cerity Partners LLC acquired a new stake in shares of Interactive Brokers Group during the 2nd quarter worth about $318,000. Daiwa Securities Group Inc. increased its position in shares of Interactive Brokers Group by 291.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider's stock worth $1,973,000 after purchasing an additional 26,500 shares during the last quarter. Finally, AXA S.A. raised its holdings in Interactive Brokers Group by 128.1% in the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider's stock valued at $710,000 after buying an additional 7,197 shares during the period. Institutional investors and hedge funds own 23.80% of the company's stock.

Insider Buying and Selling

In related news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the transaction, the director directly owned 173,482 shares of the company's stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IBKR shares. Weiss Ratings lowered shares of Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price objective on the stock. Jefferies Financial Group lowered their price objective on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating for the company in a research report on Monday, April 6th. The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a report on Friday, May 1st. Finally, Wolfe Research initiated coverage on Interactive Brokers Group in a research report on Monday, June 8th. They issued an "outperform" rating and a $101.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.22.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $91.33 on Monday. Interactive Brokers Group, Inc. has a fifty-two week low of $56.33 and a fifty-two week high of $97.84. The firm's 50 day moving average price is $86.64 and its 200 day moving average price is $76.50. The company has a market cap of $154.93 billion, a P/E ratio of 39.37, a PEG ratio of 2.52 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.94 EPS. Research analysts forecast that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were issued a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date was Monday, June 1st. Interactive Brokers Group's dividend payout ratio (DPR) is 15.09%.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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