Harvest Fund Management Co. Ltd Sells 4,578 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Harvest Fund Management Co. Ltd cut its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 85.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 790 shares of the financial services provider’s stock after selling 4,578 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Interactive Brokers Group were worth $131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBKR. N.E.W. Advisory Services LLC bought a new stake in Interactive Brokers Group during the 1st quarter worth about $26,000. Aster Capital Management DIFC Ltd lifted its position in Interactive Brokers Group by 39.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 186 shares of the financial services provider’s stock worth $33,000 after buying an additional 53 shares in the last quarter. City Holding Co. bought a new stake in Interactive Brokers Group during the 1st quarter worth about $33,000. Nvwm LLC bought a new stake in Interactive Brokers Group during the 1st quarter worth about $33,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Interactive Brokers Group in the 4th quarter valued at about $35,000. 23.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IBKR shares. Piper Sandler upped their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. The Goldman Sachs Group upped their target price on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Barclays upped their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Wall Street Zen raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Finally, Citigroup upped their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Interactive Brokers Group presently has an average rating of “Moderate Buy” and an average target price of $59.38.

Interactive Brokers Group Stock Down 1.0%

Shares of NASDAQ:IBKR opened at $65.56 on Friday. The company’s 50 day moving average price is $56.19 and its two-hundred day moving average price is $50.48. Interactive Brokers Group, Inc. has a 12-month low of $25.92 and a 12-month high of $66.82. The firm has a market cap of $110.83 billion, a PE ratio of 33.71, a PEG ratio of 2.73 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR) last announced its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business posted $1.76 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group’s dividend payout ratio is presently 16.49%.

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.