Interactive Brokers Group (NASDAQ:IBKR) Director Sells $2,000,180.00 in Stock

Key Points

• Director Lawrence Harris sold 26,000 shares on April 28 at an average price of $76.93 for a total of $2,000,180, trimming his stake by 13.03% to 173,482 shares valued at about $13.35 million.
• Interactive Brokers beat EPS expectations with $0.60 (vs. $0.57) and reported revenue of $1.68 billion (slightly below the $1.69 billion estimate) with revenue up 17% year-over-year, and the company raised its quarterly dividend to $0.0875 (annualized $0.35, ~0.5% yield).
• Analysts hold a consensus rating of Moderate Buy with an average target price of $83.25, reflecting mixed revisions as some firms raised targets while others lowered them.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) Director Lawrence Harris sold 26,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Interactive Brokers Group Trading Down 0.6%

Shares of IBKR traded down $0.44 during mid-day trading on Wednesday, hitting $77.05. 5,304,317 shares of the company traded hands, compared to its average volume of 4,964,036. Interactive Brokers Group, Inc. has a one year low of $41.43 and a one year high of $82.88. The business has a 50-day moving average of $71.31 and a 200 day moving average of $69.81. The stock has a market capitalization of $130.70 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 2.14 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released 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. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. Interactive Brokers Group's revenue was up 17.0% compared to the same quarter last year. As a group, analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Monday, June 1st. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's payout ratio is 13.79%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Zacks Research cut shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. The Goldman Sachs Group raised their price objective on shares of Interactive Brokers Group from $89.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods assumed coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.25.

Hedge Funds Weigh In On Interactive Brokers Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HM Payson & Co. boosted its position in shares of Interactive Brokers Group by 5.8% during the fourth quarter. HM Payson & Co. now owns 2,411 shares of the financial services provider's stock worth $155,000 after purchasing an additional 133 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Interactive Brokers Group by 1.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 11,483 shares of the financial services provider's stock worth $738,000 after purchasing an additional 143 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Interactive Brokers Group by 1.0% during the third quarter. Ballentine Partners LLC now owns 15,389 shares of the financial services provider's stock worth $1,059,000 after purchasing an additional 145 shares in the last quarter. Caitlin John LLC boosted its position in shares of Interactive Brokers Group by 0.6% during the third quarter. Caitlin John LLC now owns 25,195 shares of the financial services provider's stock worth $1,734,000 after purchasing an additional 153 shares in the last quarter. Finally, S&CO Inc. boosted its position in shares of Interactive Brokers Group by 0.3% during the fourth quarter. S&CO Inc. now owns 63,080 shares of the financial services provider's stock worth $4,056,000 after purchasing an additional 160 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

About Interactive Brokers Group

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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