Atria Investments Inc Boosts Stake in Interactive Brokers Group, Inc. $IBKR

Atria Investments Inc grew its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 219.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 95,979 shares of the financial services provider’s stock after buying an additional 65,894 shares during the period. Atria Investments Inc’s holdings in Interactive Brokers Group were worth $5,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Retirement Systems of Alabama raised its position in shares of Interactive Brokers Group by 301.0% during the 2nd quarter. Retirement Systems of Alabama now owns 1,057,199 shares of the financial services provider’s stock valued at $58,579,000 after buying an additional 793,553 shares in the last quarter. Assetmark Inc. raised its stake in shares of Interactive Brokers Group by 369.9% during the second quarter. Assetmark Inc. now owns 3,562 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 2,804 shares in the last quarter. Keybank National Association OH raised its stake in shares of Interactive Brokers Group by 106.4% during the second quarter. Keybank National Association OH now owns 3,747 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 1,932 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Interactive Brokers Group by 300.0% during the second quarter. Premier Path Wealth Partners LLC now owns 5,340 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 4,005 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of Interactive Brokers Group by 335.7% during the second quarter. Spire Wealth Management now owns 20,745 shares of the financial services provider’s stock worth $1,149,000 after acquiring an additional 15,984 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IBKR. BMO Capital Markets lifted their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Tuesday, October 14th. Barclays set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Friday, October 17th. CICC Research assumed coverage on shares of Interactive Brokers Group in a research note on Monday, October 27th. They set an “outperform” rating and a $78.00 price target on the stock. Finally, Zacks Research cut shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Interactive Brokers Group has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

Insider Activity at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 17,058 shares of Interactive Brokers Group stock in a transaction on Friday, September 26th. The shares were sold at an average price of $65.78, for a total value of $1,122,075.24. Following the sale, the chief financial officer owned 28,289 shares in the company, valued at $1,860,850.42. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lawrence E. Harris sold 10,645 shares of Interactive Brokers Group stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $69.00, for a total transaction of $734,505.00. Following the completion of the sale, the director owned 198,704 shares in the company, valued at approximately $13,710,576. This trade represents a 5.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,220,797 shares of company stock worth $78,337,744 over the last quarter. Corporate insiders own 2.97% of the company’s stock.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock opened at $70.36 on Friday. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $73.35. The stock has a market capitalization of $119.34 billion, a price-to-earnings ratio of 33.79, a P/E/G ratio of 2.16 and a beta of 1.22. The company’s 50 day moving average price is $66.15 and its 200-day moving average price is $58.53.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping 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 5.03%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the business earned $1.61 earnings per share. The business’s revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be issued a $0.08 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s payout ratio is 15.38%.

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.