Zurcher Kantonalbank Zurich Cantonalbank Has $3.86 Million Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Zurcher Kantonalbank reduced its stake in Interactive Brokers by 19.6%, now holding 23,302 shares valued at approximately $3.86 million after the sale of 5,687 shares in Q1.
• Interactive Brokers Group reported a quarterly earnings increase with $1.48 billion in revenue, surpassing analysts' expectations, and an earnings per share of $0.51.
• The company announced a quarterly dividend of $0.08, with an ex-dividend date of August 29 and an annualized dividend yield of 0.5%.

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 19.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,302 shares of the financial services provider's stock after selling 5,687 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Interactive Brokers Group were worth $3,859,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd raised its holdings in shares of Interactive Brokers Group by 39.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 186 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 53 shares during the period. City Holding Co. acquired a new stake in shares of Interactive Brokers Group in the 1st quarter valued at about $33,000. Nvwm LLC bought a new stake in Interactive Brokers Group in the 1st quarter valued at about $33,000. Bellwether Advisors LLC bought a new stake in Interactive Brokers Group in the 4th quarter valued at about $35,000. Finally, LGT Financial Advisors LLC raised its stake in Interactive Brokers Group by 596.7% during the 4th quarter. LGT Financial Advisors LLC now owns 209 shares of the financial services provider's stock worth $37,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 23.80% of the company's stock.

Interactive Brokers Group Trading Down 1.0%

Shares of NASDAQ:IBKR opened at $65.56 on Friday. Interactive Brokers Group, Inc. has a 1-year low of $25.92 and a 1-year high of $66.82. The stock has a market cap of $110.83 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 2.73 and a beta of 1.25. The stock's fifty day simple moving average is $56.19 and its two-hundred day simple moving average is $50.48.

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

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be issued 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 currently 16.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IBKR shares. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Bank of America reduced their price target on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Citigroup boosted their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group raised their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Barclays lifted their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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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