Lawrence Harris Sells 7,500 Shares of Interactive Brokers Group (NASDAQ:IBKR) Stock

Interactive Brokers Group, Inc. (NASDAQ:IBKR) Director Lawrence Harris sold 7,500 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $69.73, for a total transaction of $522,975.00. Following the completion of the sale, the director directly owned 216,204 shares of the company’s stock, valued at approximately $15,075,904.92. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $68.51 on Friday. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $73.35. The stock has a market cap of $116.20 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. The firm has a fifty day moving average price of $65.99 and a 200 day moving average price of $58.24.

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

Interactive Brokers Group Dividend Announcement

The firm 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 $0.08 dividend. The ex-dividend date 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 currently 15.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IBKR. GAMMA Investing LLC increased its stake in shares of Interactive Brokers Group by 34.7% during the first quarter. GAMMA Investing LLC now owns 2,560 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 660 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Interactive Brokers Group by 26.0% during the first quarter. Illinois Municipal Retirement Fund now owns 9,172 shares of the financial services provider’s stock worth $1,519,000 after acquiring an additional 1,894 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Interactive Brokers Group during the first quarter worth about $78,000. New York State Teachers Retirement System increased its stake in shares of Interactive Brokers Group by 10.5% during the first quarter. New York State Teachers Retirement System now owns 77,387 shares of the financial services provider’s stock worth $12,815,000 after acquiring an additional 7,360 shares during the period. Finally, ABLE Financial Group LLC increased its stake in shares of Interactive Brokers Group by 27.9% during the first quarter. ABLE Financial Group LLC now owns 2,072 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 452 shares during the period. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on IBKR shares. CICC Research initiated coverage on shares of Interactive Brokers Group in a research note on Monday. They issued an “outperform” rating and a $78.00 price objective on the stock. BMO Capital Markets increased their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Zacks Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Tuesday, October 14th. Finally, Barclays set a $80.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Friday, October 17th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

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.