Cercano Management LLC Grows Stake in Interactive Brokers Group, Inc. $IBKR

Cercano Management LLC increased its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 184.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 248,179 shares of the financial services provider’s stock after purchasing an additional 160,986 shares during the quarter. Cercano Management LLC’s holdings in Interactive Brokers Group were worth $13,752,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new position in shares of Interactive Brokers Group during the 1st quarter worth $26,000. ORG Partners LLC grew its stake in Interactive Brokers Group by 312.9% in the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 363 shares during the last quarter. Huntington National Bank increased its holdings in Interactive Brokers Group by 51.8% during the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 176 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in Interactive Brokers Group by 300.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 423 shares in the last quarter. Finally, Private Wealth Asset Management LLC raised its position 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.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. Piper Sandler set a $80.00 target price on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. 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. Barclays set a $80.00 price target on Interactive Brokers Group and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Interactive Brokers Group in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.08.

Insider Buying and Selling at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 17,058 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 28,289 shares in the company, valued at approximately $1,860,850.42. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jill Bright purchased 400 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were bought at an average cost of $65.95 per share, with a total value of $26,380.00. Following the transaction, the director directly owned 10,304 shares of the company’s stock, valued at $679,548.80. The trade was a 4.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 1,026,711 shares of company stock worth $65,238,880 in the last 90 days. 2.97% of the stock is owned by company insiders.

Interactive Brokers Group Stock Performance

IBKR stock opened at $66.03 on Friday. The company has a 50 day moving average price of $67.67 and a two-hundred day moving average price of $60.60. The stock has a market capitalization of $112.00 billion, a P/E ratio of 31.71, a PEG ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a one year low of $32.82 and a one year high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings data 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. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders 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 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.