Interactive Brokers Group (NASDAQ:IBKR) Shares Down 3.9% - Here's What Happened

Key Points

• Interactive Brokers Group's share price fell 3.9% to $64.99, with trading volume down 82% from its average.
• Recent analyst reports show a range of ratings with a consensus price target of $59.38, and two analysts providing a hold rating while seven issued buy ratings.
• The company declared a quarterly dividend of $0.08 per share, reflecting a yield of 0.5% and a payout ratio of 16.49%.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report)'s share price dropped 3.9% during trading on Wednesday . The company traded as low as $64.95 and last traded at $64.99. Approximately 1,272,593 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 7,142,354 shares. The stock had previously closed at $67.63.

Wall Street Analysts Forecast Growth

IBKR has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Bank of America lowered their price target on 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 raised their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Barclays increased their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Down 6.6%

The firm has a 50 day moving average price of $58.25 and a 200 day moving average price of $51.37. The stock has a market cap of $106.80 billion, a P/E ratio of 32.49, a P/E/G ratio of 2.70 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%. The firm's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $1.76 EPS. Equities analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

Insiders Place Their Bets

In other news, Vice Chairman Earl H. Nemser sold 39,786 shares of Interactive Brokers Group stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $66.38, for a total value of $2,640,994.68. Following the completion of the transaction, the insider owned 360,114 shares in the company, valued at approximately $23,904,367.32. The trade was a 9.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Interactive Brokers Group

A number of large investors have recently bought and sold shares of the business. Compound Planning Inc. boosted its holdings in Interactive Brokers Group by 1.1% during the 1st quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider's stock valued at $958,000 after acquiring an additional 62 shares during the period. CWM LLC raised its position in Interactive Brokers Group by 6.6% during the 1st quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock valued at $176,000 after purchasing an additional 66 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Interactive Brokers Group by 0.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock valued at $1,410,000 after purchasing an additional 70 shares in the last quarter. USS Investment Management Ltd raised its position in Interactive Brokers Group by 0.4% during the 1st quarter. USS Investment Management Ltd now owns 20,161 shares of the financial services provider's stock valued at $3,339,000 after purchasing an additional 76 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in Interactive Brokers Group by 4.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.