Interactive Brokers Group, Inc. $IBKR Shares Purchased by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lifted its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 305.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 426,960 shares of the financial services provider’s stock after buying an additional 321,780 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Interactive Brokers Group were worth $23,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Interactive Brokers Group by 303.9% during the 2nd quarter. Vanguard Group Inc. now owns 41,810,406 shares of the financial services provider’s stock valued at $2,316,715,000 after acquiring an additional 31,458,885 shares in the last quarter. Cantillon Capital Management LLC lifted its stake in shares of Interactive Brokers Group by 288.7% during the second quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider’s stock worth $709,449,000 after purchasing an additional 9,509,805 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Interactive Brokers Group by 227.7% in the second quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock worth $562,328,000 after buying an additional 7,051,682 shares during the period. Geode Capital Management LLC boosted its position in shares of Interactive Brokers Group by 190.9% in the second quarter. Geode Capital Management LLC now owns 6,682,629 shares of the financial services provider’s stock worth $371,363,000 after buying an additional 4,385,602 shares during the period. Finally, Waverton Investment Management Ltd grew its stake in shares of Interactive Brokers Group by 2,148.3% in the second quarter. Waverton Investment Management Ltd now owns 4,441,243 shares of the financial services provider’s stock valued at $246,089,000 after buying an additional 4,243,702 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Trading Up 1.3%

Shares of Interactive Brokers Group stock opened at $65.02 on Friday. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35. The company has a market cap of $110.27 billion, a P/E ratio of 31.22, a P/E/G ratio of 2.16 and a beta of 1.22. The stock has a 50-day moving average price of $67.73 and a 200 day moving average price of $61.82.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 $1.61 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The company’s revenue was up 21.2% compared to the same quarter last year. On average, equities 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 company 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 15.38%.

Analysts Set New Price Targets

A number of research firms recently weighed in on IBKR. Barclays set a $80.00 price target on shares of Interactive Brokers Group and gave the company an “overweight” rating in a report on Friday, October 17th. Zacks Research upgraded Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. BMO Capital Markets boosted their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Piper Sandler set a $80.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, CICC Research assumed coverage on shares of Interactive Brokers Group in a research report on Monday, October 27th. They issued an “outperform” rating and a $78.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

Insiders Place Their Bets

In related news, CFO Paul Jonathan Brody sold 116,861 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the transaction, the chief financial officer owned 158,954 shares in the company, valued at approximately $10,289,092.42. The trade was a 42.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence E. Harris sold 22,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 231,704 shares in the company, valued at approximately $15,670,141.52. This represents a 8.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,026,711 shares of company stock worth $65,238,880. 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.