NewEdge Advisors LLC Sells 22,390 Shares of Interactive Brokers Group, Inc. $IBKR

NewEdge Advisors LLC lessened its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 59.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,984 shares of the financial services provider’s stock after selling 22,390 shares during the quarter. NewEdge Advisors LLC’s holdings in Interactive Brokers Group were worth $1,005,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Interactive Brokers Group during the fourth quarter valued at $453,146,000. Orbis Allan Gray Ltd lifted its holdings in shares of Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock worth $539,697,000 after acquiring an additional 6,246,715 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Interactive Brokers Group by 225.4% in the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock worth $420,834,000 after acquiring an additional 5,260,923 shares during the last quarter. State Street Corp boosted its stake in shares of Interactive Brokers Group by 23.2% during the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock worth $1,283,221,000 after purchasing an additional 3,517,729 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Interactive Brokers Group by 44.1% during the 4th quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock worth $533,026,000 after purchasing an additional 2,534,772 shares during the period. 23.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on IBKR shares. Bank of America increased their price objective on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. BMO Capital Markets restated an “outperform” rating and set a $110.00 target price (up from $105.00) on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. Piper Sandler set a $109.00 target price on Interactive Brokers Group in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Finally, China Renaissance began coverage on Interactive Brokers Group in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.89.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $90.56 on Wednesday. The stock has a market cap of $154.08 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 1.70 and a beta of 1.34. The firm has a 50-day moving average of $91.77 and a two-hundred day moving average of $81.47. Interactive Brokers Group, Inc. has a 1 year low of $58.95 and a 1 year high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. Research analysts expect that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 14.00%.

About Interactive Brokers Group

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.