Insider Selling: Interactive Brokers Group (NASDAQ:IBKR) Director Sells $1,487,860.00 in Stock

Interactive Brokers Group, Inc. (NASDAQ:IBKR) Director Lawrence Harris sold 22,000 shares of Interactive Brokers Group stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $67.63, for a total value of $1,487,860.00. Following the completion of the sale, the director directly owned 231,704 shares in the company, valued at $15,670,141.52. This represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $69.19 on Thursday. The business’s 50 day moving average price is $65.87 and its 200-day moving average price is $58.17. The firm has a market capitalization of $117.36 billion, a PE ratio of 33.22, a P/E/G ratio of 2.14 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business’s revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. As a group, analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group’s payout ratio is 15.38%.

Analysts Set New Price Targets

A number of research firms have weighed in on IBKR. Piper Sandler set a $80.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Tuesday, October 14th. The Goldman Sachs Group reissued a “buy” rating and set a $91.00 price objective on shares of Interactive Brokers Group in a research note on Friday, October 17th. BMO Capital Markets boosted their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, CICC Research began coverage on Interactive Brokers Group in a research note on Monday. They set an “outperform” rating and a $78.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.08.

Institutional Investors Weigh In On Interactive Brokers Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Interactive Brokers Group by 303.9% in the second quarter. Vanguard Group Inc. now owns 41,810,406 shares of the financial services provider’s stock valued at $2,316,715,000 after purchasing an additional 31,458,885 shares during the period. State Street Corp raised its position in Interactive Brokers Group by 301.3% in the second quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock valued at $838,410,000 after purchasing an additional 11,360,260 shares during the period. Cantillon Capital Management LLC raised its position in Interactive Brokers Group by 288.7% in the second quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider’s stock valued at $709,449,000 after purchasing an additional 9,509,805 shares during the period. Greenwich Wealth Management LLC raised its holdings in shares of Interactive Brokers Group by 301.6% in the 2nd quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider’s stock valued at $602,004,000 after buying an additional 8,159,175 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Interactive Brokers Group by 227.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock valued at $562,328,000 after buying an additional 7,051,682 shares during the period. Hedge funds and other institutional investors 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.