8,745 Interactive Brokers Group, Inc. $IBKR Shares Sold by VestGen Advisors LLC

VestGen Advisors LLC decreased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 64.1% during the third quarter, HoldingsChannel reports. The firm owned 4,891 shares of the financial services provider’s stock after selling 8,745 shares during the period. VestGen Advisors LLC’s holdings in Interactive Brokers Group were worth $418,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IBKR. Nykredit A S bought a new position in Interactive Brokers Group in the second quarter worth approximately $15,348,000. Engineers Gate Manager LP grew its position in shares of Interactive Brokers Group by 831.3% in the 2nd quarter. Engineers Gate Manager LP now owns 108,359 shares of the financial services provider’s stock worth $9,432,000 after buying an additional 96,724 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Interactive Brokers Group by 79.4% during the second quarter. TD Waterhouse Canada Inc. now owns 516,646 shares of the financial services provider’s stock valued at $48,185,000 after acquiring an additional 228,716 shares during the last quarter. AXQ Capital LP boosted its stake in Interactive Brokers Group by 69.6% in the second quarter. AXQ Capital LP now owns 45,065 shares of the financial services provider’s stock valued at $3,922,000 after acquiring an additional 18,499 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Interactive Brokers Group by 30.1% during the first quarter. Cetera Investment Advisers now owns 209,311 shares of the financial services provider’s stock worth $14,038,000 after purchasing an additional 48,443 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $74.83 on Tuesday. Interactive Brokers Group, Inc. has a one year low of $58.95 and a one year high of $98.75. The stock has a market capitalization of $127.32 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.37 and a beta of 1.37. The stock has a 50 day moving average price of $88.02 and a 200 day moving average price of $82.90.

Interactive Brokers Group (NASDAQ:IBKR) last announced its earnings results on Thursday, October 15th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.67. Interactive Brokers Group had a net margin of 10.03% and a return on equity of 5.38%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. On average, analysts predict that Interactive Brokers Group, Inc. will post 2.69 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 Monday, December 14th. Investors of record on Tuesday, December 1st will be issued a $0.15 dividend. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.0875. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 1st. Interactive Brokers Group’s payout ratio is 23.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IBKR. Zacks Research lowered Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 24th. Jefferies Financial Group boosted their price target on Interactive Brokers Group from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Interactive Brokers Group in a report on Wednesday, September 2nd. Seaport Research Partners upgraded shares of Interactive Brokers Group to a “buy” rating in a report on Monday, October 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $111.00 price target on shares of Interactive Brokers Group in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.87.

Insiders Place Their Bets

In related news, Director Lawrence Harris sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $82.61, for a total value of $2,065,250.00. Following the completion of the sale, the director owned 148,482 shares of the company’s stock, valued at approximately $12,266,098.02. This represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and portfolio management services to individual investors, institutional clients, financial advisers, hedge funds, proprietary trading firms and introducing brokers. Through its subsidiaries, the company offers access to a broad range of markets and financial instruments, including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and certain digital assets.

Interactive Brokers provides its services through platforms such as Trader Workstation, IBKR Mobile and the Client Portal, as well as application programming interfaces for automated and institutional trading.