Insider Selling: Interactive Brokers Group (NASDAQ:IBKR) Director Sells 25,000 Shares of Company Stock

Key Points

• Director Lawrence Harris sold 25,000 Interactive Brokers shares at an average price of $82.61, generating approximately $2.07 million and reducing his direct holdings by 14.41% to 148,482 shares.
• IBKR shares fell 2.1% to $81.77, while the company’s latest quarterly results met EPS expectations at $0.67 and slightly exceeded revenue estimates with $1.87 billion, up 15.6% year over year.
• Interactive Brokers increased its quarterly dividend to $0.15 per share, and analysts maintain a “Moderate Buy” consensus with an average price target of $102.87.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) Director Lawrence Harris sold 25,000 shares of Interactive Brokers Group stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $82.61, for a total transaction of $2,065,250.00. Following the completion of the sale, the director directly owned 148,482 shares in the company, valued at $12,266,098.02. This represents a 14.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Interactive Brokers Group Stock Down 2.1%

Shares of Interactive Brokers Group stock traded down $1.77 during mid-day trading on Thursday, reaching $81.77. 3,573,291 shares of the stock traded hands, compared to its average volume of 4,687,129. The stock has a market capitalization of $139.12 billion, a PE ratio of 31.45, a PEG ratio of 1.31 and a beta of 1.37. The business has a 50-day moving average of $88.83 and a 200 day moving average of $82.79. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $98.75.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, October 15th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.86 billion. Interactive Brokers Group had a return on equity of 5.38% and a net margin of 10.03%. The firm's quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. On average, equities research analysts expect that Interactive Brokers Group, Inc. will post 2.69 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Tuesday, December 1st will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.60 annualized dividend and a yield of 0.7%. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.0875. Interactive Brokers Group's dividend payout ratio is presently 23.08%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its stake in shares of Interactive Brokers Group by 156.0% during the first quarter. Bessemer Group Inc. now owns 3,922,736 shares of the financial services provider's stock valued at $263,097,000 after acquiring an additional 2,390,247 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Interactive Brokers Group in the 2nd quarter valued at about $210,639,000. Amundi lifted its holdings in Interactive Brokers Group by 62.4% in the 1st quarter. Amundi now owns 2,433,236 shares of the financial services provider's stock valued at $163,197,000 after purchasing an additional 934,843 shares in the last quarter. Progeny 3 Inc. boosted its stake in shares of Interactive Brokers Group by 3.1% during the 1st quarter. Progeny 3 Inc. now owns 2,195,640 shares of the financial services provider's stock worth $147,262,000 after purchasing an additional 65,880 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Interactive Brokers Group by 0.4% during the 1st quarter. KBC Group NV now owns 2,115,438 shares of the financial services provider's stock worth $141,883,000 after purchasing an additional 8,844 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IBKR. Weiss Ratings raised shares of Interactive Brokers Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Evercore assumed coverage on shares of Interactive Brokers Group in a research note on Monday, October 12th. They set an "outperform" rating and a $100.00 target price on the stock. Wells Fargo & Company started coverage on shares of Interactive Brokers Group in a report on Friday, October 2nd. They set an "overweight" rating and a $102.00 target price on the stock. Rothschild & Co Redburn raised their price target on shares of Interactive Brokers Group from $94.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, September 21st. Finally, Piper Sandler set a $109.00 price target on shares of Interactive Brokers Group and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Interactive Brokers Group has an average rating of "Moderate Buy" and a consensus price target of $102.87.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and portfolio management services to individual investors, institutional clients, financial advisers, hedge funds, proprietary trading firms and introducing brokers. Through its subsidiaries, the company offers access to a broad range of markets and financial instruments, including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and certain digital assets.

Interactive Brokers provides its services through platforms such as Trader Workstation, IBKR Mobile and the Client Portal, as well as application programming interfaces for automated and institutional trading.

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