Marks Group Wealth Management Inc Cuts Position in Interactive Brokers Group, Inc. $IBKR

Marks Group Wealth Management Inc decreased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 17.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,719 shares of the financial services provider’s stock after selling 5,965 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Interactive Brokers Group were worth $1,859,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Reflection Asset Management acquired a new stake in Interactive Brokers Group in the fourth quarter valued at approximately $26,000. IMA Advisory Services Inc. raised its stake in shares of Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock worth $29,000 after buying an additional 178 shares during the period. Tobam purchased a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $30,000. Entrust Financial LLC purchased a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $31,000. Finally, SHP Wealth Management purchased a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Down 5.3%

IBKR stock opened at $92.21 on Friday. The firm has a 50-day moving average of $89.31 and a two-hundred day moving average of $78.40. Interactive Brokers Group, Inc. has a 12 month low of $58.80 and a 12 month high of $97.84. The company has a market cap of $156.42 billion, a price-to-earnings ratio of 39.75, a PEG ratio of 2.26 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the business earned $1.94 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. As a group, equities analysts forecast that Interactive Brokers Group, Inc. will post 2.51 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were paid a $0.0875 dividend. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, June 1st. 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 15.09%.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the business’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 transaction, the director owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on IBKR shares. Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Piper Sandler set a $105.00 price objective on shares of Interactive Brokers Group and gave the company an “overweight” rating in a report on Wednesday. Barclays lifted their target price on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, BMO Capital Markets raised their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.89.

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.