Patten Group Inc. Has $209,000 Position in Interactive Brokers Group, Inc. $IBKR

Patten Group Inc. reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 72.6% during the 1st quarter, HoldingsChannel reports. The fund owned 3,114 shares of the financial services provider’s stock after selling 8,264 shares during the period. Patten Group Inc.’s holdings in Interactive Brokers Group were worth $209,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Reflection Asset Management purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth $26,000. IMA Advisory Services Inc. grew its stake in Interactive Brokers Group by 64.3% in the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 178 shares in the last quarter. Tobam acquired a new position in Interactive Brokers Group in the 4th quarter worth about $30,000. Entrust Financial LLC acquired a new position in Interactive Brokers Group in the 4th quarter worth about $31,000. Finally, SHP Wealth Management purchased a new stake in shares of Interactive Brokers Group during the 4th quarter worth about $31,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Performance

Shares of NASDAQ IBKR opened at $91.33 on Friday. The business’s 50-day simple moving average is $86.64 and its 200-day simple moving average is $76.40. Interactive Brokers Group, Inc. has a 52 week low of $56.33 and a 52 week high of $97.84. The firm has a market cap of $154.93 billion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 2.52 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last posted its 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. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 EPS. As a group, equities research analysts forecast that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were paid a $0.0875 dividend. The ex-dividend date was Monday, June 1st. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. Interactive Brokers Group’s dividend payout ratio is presently 15.09%.

Insider Activity

In related news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IBKR shares. Piper Sandler lifted their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Barclays increased their price objective on Interactive Brokers Group from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Weiss Ratings cut shares of Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research note on Friday, May 1st. Finally, BMO Capital Markets boosted 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 report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average price target of $85.22.

Interactive Brokers Group 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.