Envestnet Asset Management Inc. Cuts Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Envestnet Asset Management Inc. cut its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,977 shares of the financial services provider’s stock after selling 19,185 shares during the period. Envestnet Asset Management Inc.’s holdings in Interactive Brokers Group were worth $40,455,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Interactive Brokers Group by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,690,056 shares of the financial services provider’s stock worth $803,306,000 after buying an additional 123,226 shares in the last quarter. Bares Capital Management Inc. boosted its holdings in shares of Interactive Brokers Group by 10.4% during the 1st quarter. Bares Capital Management Inc. now owns 2,810,131 shares of the financial services provider’s stock valued at $313,920,000 after purchasing an additional 264,543 shares during the last quarter. Norges Bank bought a new stake in shares of Interactive Brokers Group in the fourth quarter worth about $97,476,000. Wells Fargo & Company MN increased its holdings in shares of Interactive Brokers Group by 1.4% in the fourth quarter. Wells Fargo & Company MN now owns 968,669 shares of the financial services provider’s stock worth $80,303,000 after purchasing an additional 13,145 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Interactive Brokers Group by 122.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 951,211 shares of the financial services provider’s stock worth $78,855,000 after buying an additional 524,503 shares in the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IBKR. UBS Group lifted their price objective on Interactive Brokers Group from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods downgraded shares of Interactive Brokers Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $128.00 to $135.00 in a research note on Thursday, July 11th. Barclays lifted their price objective on shares of Interactive Brokers Group from $145.00 to $147.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group upped their target price on shares of Interactive Brokers Group from $138.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.44.

Interactive Brokers Group Trading Up 1.7 %

IBKR stock opened at $132.45 on Friday. The stock has a market cap of $55.77 billion, a PE ratio of 22.60, a P/E/G ratio of 1.10 and a beta of 0.80. Interactive Brokers Group, Inc. has a 12 month low of $72.60 and a 12 month high of $133.42. The company has a 50-day moving average price of $121.83 and a 200 day moving average price of $119.20.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. Interactive Brokers Group had a return on equity of 4.88% and a net margin of 7.88%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Sell-side analysts forecast that Interactive Brokers Group, Inc. will post 6.81 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.25 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.76%. Interactive Brokers Group’s payout ratio is 17.09%.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.