IFP Advisors Inc Cuts Stock Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

IFP Advisors Inc cut its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 8.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,206 shares of the financial services provider’s stock after selling 192 shares during the quarter. IFP Advisors Inc’s holdings in Interactive Brokers Group were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBKR. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Interactive Brokers Group in the third quarter valued at $83,630,000. Waverton Investment Management Ltd purchased a new position in shares of Interactive Brokers Group in the third quarter valued at $26,946,000. Lord Abbett & CO. LLC purchased a new position in shares of Interactive Brokers Group in the third quarter valued at $25,085,000. Bamco Inc. NY boosted its stake in Interactive Brokers Group by 16.3% during the third quarter. Bamco Inc. NY now owns 912,608 shares of the financial services provider’s stock worth $127,181,000 after buying an additional 127,640 shares during the period. Finally, Progeny 3 Inc. purchased a new position in Interactive Brokers Group during the third quarter worth $17,699,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Trading Up 0.4 %

NASDAQ:IBKR opened at $204.40 on Friday. Interactive Brokers Group, Inc. has a twelve month low of $103.69 and a twelve month high of $236.53. The company has a market cap of $86.36 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The stock has a fifty day simple moving average of $204.34 and a 200-day simple moving average of $170.96.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, January 21st. The financial services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.22. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. As a group, equities research analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.25 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.49%. Interactive Brokers Group’s payout ratio is currently 14.16%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays lifted their price objective on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. UBS Group lifted their price objective on shares of Interactive Brokers Group from $225.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Interactive Brokers Group in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Interactive Brokers Group from $171.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Interactive Brokers Group presently has a consensus rating of “Moderate Buy” and an average target price of $204.13.

Insider Activity at Interactive Brokers Group

In other news, Director Jill Bright acquired 135 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $219.51 per share, for a total transaction of $29,633.85. Following the completion of the acquisition, the director now directly owns 2,476 shares of the company’s stock, valued at $543,506.76. The trade was a 5.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.21% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Company Profile

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.