Interactive Brokers Group (NASDAQ:IBKR) Sees Strong Trading Volume After Dividend Announcement

Interactive Brokers Group, Inc. (NASDAQ:IBKR) saw unusually-high trading volume on Wednesday after the company announced a dividend. Approximately 374,288 shares were traded during trading, a decline of 68% from the previous session’s volume of 1,164,074 shares.The stock last traded at $111.91 and had previously closed at $107.39.

The newly announced dividend which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.90%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 31st. Interactive Brokers Group’s payout ratio is presently 6.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IBKR shares. The Goldman Sachs Group upgraded shares of Interactive Brokers Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $88.00 to $102.00 in a report on Tuesday, January 9th. Barclays boosted their price target on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America boosted their price target on shares of Interactive Brokers Group from $147.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group lowered their price target on shares of Interactive Brokers Group from $108.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Finally, Piper Sandler boosted their price target on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Interactive Brokers Group has an average rating of “Moderate Buy” and a consensus price target of $124.00.

Interactive Brokers Group Stock Performance

The firm’s 50 day moving average is $108.49 and its 200-day moving average is $92.68. The firm has a market cap of $46.57 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Interactive Brokers Group had a net margin of 7.62% and a return on equity of 4.72%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, research analysts predict that Interactive Brokers Group, Inc. will post 6.46 EPS for the current year.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 74,218 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the completion of the transaction, the insider now owns 234,552 shares of the company’s stock, valued at approximately $22,585,012.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 74,218 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the completion of the transaction, the insider now owns 234,552 shares of the company’s stock, valued at approximately $22,585,012.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Earl H. Nemser sold 25,782 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $95.71, for a total transaction of $2,467,595.22. Following the transaction, the insider now directly owns 208,770 shares of the company’s stock, valued at approximately $19,981,376.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,883 shares of company stock valued at $40,395,135. Insiders own 3.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Oliver Luxxe Assets LLC raised its position in shares of Interactive Brokers Group by 1.8% during the first quarter. Oliver Luxxe Assets LLC now owns 7,047 shares of the financial services provider’s stock valued at $787,000 after buying an additional 126 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Interactive Brokers Group by 3.8% during the third quarter. AQR Capital Management LLC now owns 3,495 shares of the financial services provider’s stock valued at $303,000 after buying an additional 129 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Interactive Brokers Group by 2.1% during the third quarter. Commonwealth Equity Services LLC now owns 6,381 shares of the financial services provider’s stock valued at $552,000 after buying an additional 133 shares during the last quarter. Toroso Investments LLC raised its position in shares of Interactive Brokers Group by 1.1% during the third quarter. Toroso Investments LLC now owns 11,702 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 133 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Interactive Brokers Group by 22.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 744 shares of the financial services provider’s stock valued at $62,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

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.