Geode Capital Management LLC Lowers Holdings in Interactive Brokers Group, Inc. $IBKR

Geode Capital Management LLC reduced its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,203,434 shares of the financial services provider’s stock after selling 140,926 shares during the quarter. Geode Capital Management LLC’s holdings in Interactive Brokers Group were worth $654,260,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IBKR. AQR Capital Management LLC boosted its stake in shares of Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 2,713 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Interactive Brokers Group by 307.9% during the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after acquiring an additional 10,943 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Interactive Brokers Group during the 2nd quarter worth about $318,000. Daiwa Securities Group Inc. boosted its stake in shares of Interactive Brokers Group by 291.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after acquiring an additional 26,500 shares in the last quarter. Finally, AXA S.A. boosted its stake in shares of Interactive Brokers Group by 128.1% during the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 7,197 shares in the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Up 4.6%

IBKR opened at $86.97 on Friday. Interactive Brokers Group, Inc. has a twelve month low of $49.15 and a twelve month high of $88.44. The company has a 50-day moving average price of $77.02 and a 200 day moving average price of $71.97. The company has a market cap of $147.53 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.40 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping 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 firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, sell-side analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be given a dividend of $0.0875 per share. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, June 1st. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 13.79%.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 173,482 shares in the company, valued at $13,345,970.26. This represents a 13.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IBKR. Jefferies Financial Group lowered their target price 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 lowered 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 set a $98.00 target price on shares of Interactive Brokers Group in a research note on Friday, May 1st. Piper Sandler increased their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets increased their target price on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.25.

Interactive Brokers Group Company Profile

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.