Pinnacle Wealth Management LLC Has $1.59 Million Stake in Interactive Brokers Group, Inc. $IBKR

Pinnacle Wealth Management LLC boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 772.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,688 shares of the financial services provider’s stock after buying an additional 25,401 shares during the quarter. Pinnacle Wealth Management LLC’s holdings in Interactive Brokers Group were worth $1,590,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IBKR. American Century Companies Inc. increased its position in Interactive Brokers Group by 1,476.3% during the first quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider’s stock worth $237,453,000 after buying an additional 1,343,007 shares during the last quarter. RV Capital AG grew its position in shares of Interactive Brokers Group by 300.0% in the second quarter. RV Capital AG now owns 849,920 shares of the financial services provider’s stock valued at $47,094,000 after purchasing an additional 637,440 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Interactive Brokers Group by 244.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 780,044 shares of the financial services provider’s stock valued at $43,932,000 after purchasing an additional 553,752 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Interactive Brokers Group by 185.4% in the second quarter. Allianz Asset Management GmbH now owns 833,813 shares of the financial services provider’s stock valued at $46,202,000 after purchasing an additional 541,672 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Interactive Brokers Group by 283.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 516,526 shares of the financial services provider’s stock valued at $28,621,000 after purchasing an additional 381,656 shares during the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $91.00 price target on shares of Interactive Brokers Group in a research report on Friday. Citigroup raised their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a research report on Monday, July 7th. BMO Capital Markets raised their price target on Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday. Wall Street Zen raised Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Barclays set a $80.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.34.

Interactive Brokers Group Stock Performance

NASDAQ IBKR opened at $66.23 on Friday. The firm has a 50-day simple moving average of $65.30 and a 200 day simple moving average of $56.47. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $73.35. The stock has a market cap of $112.34 billion, a PE ratio of 31.80, a PEG ratio of 2.71 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.17%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm’s revenue was up 21.2% on a year-over-year basis. Research 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 15.38%.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the transaction, the insider owned 461,500 shares in the company, valued at $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer owned 158,954 shares of the company’s stock, valued at approximately $10,289,092.42. This represents a 42.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,205,683 shares of company stock valued at $77,217,965. Corporate insiders own 2.97% of the company’s stock.

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.