Lawrence Harris Sells 22,000 Shares of Interactive Brokers Group (NASDAQ:IBKR) Stock

Interactive Brokers Group, Inc. (NASDAQ:IBKR) Director Lawrence Harris sold 22,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $67.63, for a total value of $1,487,860.00. Following the transaction, the director owned 231,704 shares in the company, valued at $15,670,141.52. This represents a 8.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Interactive Brokers Group Trading Down 1.2%

Shares of IBKR stock opened at $68.65 on Wednesday. The company has a market capitalization of $116.44 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.17 and a beta of 1.22. The business’s 50 day moving average is $65.73 and its two-hundred day moving average is $57.98. Interactive Brokers Group, Inc. has a 12-month low of $32.82 and a 12-month high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.Interactive Brokers Group’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 earnings per share. On average, research analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is presently 15.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BMO Capital Markets increased their target price on Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Interactive Brokers Group in a report on Tuesday, October 14th. Barclays set a $80.00 target price on Interactive Brokers Group and gave the company an “overweight” rating in a report on Friday, October 17th. CICC Research assumed coverage on Interactive Brokers Group in a report on Monday. They set an “outperform” rating and a $78.00 target price for the company. Finally, Zacks Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.08.

Institutional Investors Weigh In On Interactive Brokers Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new stake in Interactive Brokers Group during the first quarter worth $26,000. ORG Partners LLC increased its stake in Interactive Brokers Group by 312.9% during the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 363 shares during the last quarter. Huntington National Bank increased its stake in Interactive Brokers Group by 51.8% during the second quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 176 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in Interactive Brokers Group by 300.0% during the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 423 shares during the last quarter. Finally, Private Wealth Asset Management LLC increased its stake in Interactive Brokers Group by 300.0% during the second quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 435 shares during the last quarter. Institutional investors and hedge funds own 23.80% 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.