QRG Capital Management Inc. Has $5.96 Million Stock Holdings in Interactive Brokers Group, Inc. $IBKR

QRG Capital Management Inc. boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 240.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,799 shares of the financial services provider’s stock after acquiring an additional 62,711 shares during the period. QRG Capital Management Inc.’s holdings in Interactive Brokers Group were worth $5,956,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its position in shares of Interactive Brokers Group by 26.6% during the 1st quarter. HB Wealth Management LLC now owns 12,373 shares of the financial services provider’s stock valued at $830,000 after acquiring an additional 2,597 shares during the period. Moran Wealth Management LLC grew its holdings in Interactive Brokers Group by 62.7% in the first quarter. Moran Wealth Management LLC now owns 165,986 shares of the financial services provider’s stock worth $11,133,000 after purchasing an additional 63,993 shares during the period. New York State Teachers Retirement System grew its holdings in Interactive Brokers Group by 4.1% in the first quarter. New York State Teachers Retirement System now owns 290,469 shares of the financial services provider’s stock worth $19,482,000 after purchasing an additional 11,479 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Interactive Brokers Group in the first quarter worth $4,415,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Interactive Brokers Group by 36.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 130,500 shares of the financial services provider’s stock valued at $8,753,000 after purchasing an additional 34,800 shares in the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $91.33 on Monday. The company has a market capitalization of $154.93 billion, a PE ratio of 39.37, a PEG ratio of 2.52 and a beta of 1.33. The stock’s 50 day moving average price is $86.64 and its 200-day moving average price is $76.50. Interactive Brokers Group, Inc. has a twelve month low of $56.33 and a twelve month high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. As a group, research analysts expect that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IBKR. Piper Sandler upped their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a research note on Friday, May 1st. Weiss Ratings downgraded Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Barclays upped their target price on Interactive Brokers Group from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group cut their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.22.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director owned 173,482 shares in the company, valued at $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.

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.