Interactive Brokers Group, Inc. (NASDAQ:IBKR) Vice Chairman Sells $2,640,994.68 in Stock

Key Points

• Earl H. Nemser, Vice Chairman of Interactive Brokers Group, sold 39,786 shares for approximately $2.64 million, reducing his stake by nearly 10% to about 360,114 shares.
• The company reported a 14.7% year-over-year increase in revenue, reaching $1.48 billion for the quarter, exceeding analysts' expectations of $1.37 billion.
• Interactive Brokers announced a quarterly dividend of $0.08 per share, with an annualized yield of 0.5%, set to be paid on September 12th to investors of record on September 1st.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) Vice Chairman Earl H. Nemser sold 39,786 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $66.38, for a total transaction of $2,640,994.68. Following the completion of the sale, the insider owned 360,114 shares of the company's stock, valued at approximately $23,904,367.32. This represents a 9.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Interactive Brokers Group Price Performance

NASDAQ IBKR traded down $1.95 during mid-day trading on Friday, reaching $63.61. 7,972,286 shares of the stock were exchanged, compared to its average volume of 7,370,919. Interactive Brokers Group, Inc. has a one year low of $25.92 and a one year high of $66.82. The stock has a 50 day simple moving average of $56.19 and a 200-day simple moving average of $50.48. The stock has a market cap of $107.53 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.73 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm earned $1.76 earnings per share. Interactive Brokers Group's quarterly revenue was up 14.7% on a year-over-year basis. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be given 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 payout ratio is presently 16.49%.

Institutional Trading of Interactive Brokers Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fairfield Financial Advisors LTD bought a new stake in Interactive Brokers Group during the 2nd quarter valued at $353,000. Motley Fool Asset Management LLC grew its stake in shares of Interactive Brokers Group by 287.6% in the 2nd quarter. Motley Fool Asset Management LLC now owns 7,024 shares of the financial services provider's stock worth $389,000 after acquiring an additional 5,212 shares in the last quarter. Petra Financial Advisors Inc. grew its stake in shares of Interactive Brokers Group by 669.8% in the 2nd quarter. Petra Financial Advisors Inc. now owns 10,054 shares of the financial services provider's stock worth $557,000 after acquiring an additional 8,748 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Interactive Brokers Group by 331.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 109,700 shares of the financial services provider's stock worth $6,078,000 after acquiring an additional 84,300 shares in the last quarter. Finally, Facet Wealth Inc. bought a new stake in shares of Interactive Brokers Group in the 2nd quarter worth $264,000. Institutional investors own 23.80% of the company's stock.

Analyst Ratings Changes

IBKR has been the subject of a number of research reports. Citigroup raised their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group raised their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Barclays raised their target price 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. Bank of America decreased their target price on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.38.

Interactive Brokers Group Company 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.

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