Interactive Brokers Group (NASDAQ:IBKR) Director Lawrence Harris Sells 6,855 Shares of Stock

Interactive Brokers Group, Inc. (NASDAQ:IBKR) Director Lawrence Harris sold 6,855 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $69.15, for a total value of $474,023.25. Following the completion of the sale, the director directly owned 209,349 shares in the company, valued at approximately $14,476,483.35. This represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Interactive Brokers Group Stock Performance

Shares of IBKR stock opened at $69.19 on Thursday. The stock’s fifty day moving average price is $65.87 and its two-hundred day moving average price is $58.17. The company has a market cap of $117.36 billion, a PE ratio of 33.22, a P/E/G ratio of 2.14 and a beta of 1.22. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data 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 return on equity of 5.03% and a net margin of 10.12%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business posted $1.61 EPS. Interactive Brokers Group’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities 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, December 12th. Investors 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 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) is 15.38%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IBKR. GAMMA Investing LLC raised its position in shares of Interactive Brokers Group by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 2,560 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 660 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Interactive Brokers Group by 26.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 9,172 shares of the financial services provider’s stock worth $1,519,000 after acquiring an additional 1,894 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Interactive Brokers Group in the 1st quarter worth about $78,000. New York State Teachers Retirement System raised its position in shares of Interactive Brokers Group by 10.5% in the 1st quarter. New York State Teachers Retirement System now owns 77,387 shares of the financial services provider’s stock worth $12,815,000 after acquiring an additional 7,360 shares in the last quarter. Finally, ABLE Financial Group LLC raised its position in shares of Interactive Brokers Group by 27.9% in the 1st quarter. ABLE Financial Group LLC now owns 2,072 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 452 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IBKR. Barclays set a $80.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Friday, October 17th. Zacks Research lowered Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. Citigroup raised their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Piper Sandler set a $80.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, CICC Research began coverage on Interactive Brokers Group in a research report on Monday. They set an “outperform” rating and a $78.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Interactive Brokers Group presently has an average rating of “Moderate Buy” and an average price target of $72.08.

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.