Avantax Advisory Services Inc. Lowers Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Avantax Advisory Services Inc. reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,581 shares of the financial services provider’s stock after selling 111 shares during the period. Avantax Advisory Services Inc.’s holdings in Interactive Brokers Group were worth $986,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new position in Interactive Brokers Group during the third quarter worth approximately $229,000. CIBC Asset Management Inc raised its position in shares of Interactive Brokers Group by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 3,161 shares of the financial services provider’s stock worth $441,000 after buying an additional 110 shares during the period. Quest Partners LLC acquired a new position in Interactive Brokers Group in the third quarter valued at $751,000. Pathstone Holdings LLC boosted its holdings in Interactive Brokers Group by 7.0% in the third quarter. Pathstone Holdings LLC now owns 12,348 shares of the financial services provider’s stock valued at $1,721,000 after acquiring an additional 811 shares during the last quarter. Finally, Caprock Group LLC grew its position in Interactive Brokers Group by 6.7% during the third quarter. Caprock Group LLC now owns 2,014 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 127 shares during the period. 23.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on IBKR. The Goldman Sachs Group raised their price objective on Interactive Brokers Group from $171.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their price target on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased 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 report on Monday, January 13th. Piper Sandler reissued an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Interactive Brokers Group in a research note on Wednesday, January 22nd. Finally, StockNews.com cut shares of Interactive Brokers Group from a “hold” rating to a “sell” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Interactive Brokers Group presently has a consensus rating of “Moderate Buy” and an average price target of $204.13.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $178.15 on Thursday. Interactive Brokers Group, Inc. has a 12-month low of $103.69 and a 12-month high of $236.53. The company has a market capitalization of $75.28 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99. The firm’s fifty day moving average price is $203.73 and its 200 day moving average price is $176.08.

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

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, February 28th. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 14.16%.

Insider Transactions at Interactive Brokers Group

In related news, Director Jill Bright purchased 135 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of $219.51 per share, with a total value 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 approximately $543,506.76. The trade was a 5.77 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.99% of the company’s stock.

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.