Sumitomo Mitsui Trust Group Inc. Sells 28,313 Shares of Interactive Brokers Group, Inc. $IBKR

Sumitomo Mitsui Trust Group Inc. lessened its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 856,778 shares of the financial services provider’s stock after selling 28,313 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.05% of Interactive Brokers Group worth $73,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IBKR. Bessemer Group Inc. grew its holdings in Interactive Brokers Group by 156.0% during the 1st quarter. Bessemer Group Inc. now owns 3,922,736 shares of the financial services provider’s stock valued at $263,097,000 after buying an additional 2,390,247 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Interactive Brokers Group in the 2nd quarter valued at $210,639,000. Amundi grew its position in shares of Interactive Brokers Group by 62.4% during the 1st quarter. Amundi now owns 2,433,236 shares of the financial services provider’s stock valued at $163,197,000 after purchasing an additional 934,843 shares in the last quarter. Progeny 3 Inc. grew its position in Interactive Brokers Group by 3.1% during the first quarter. Progeny 3 Inc. now owns 2,195,640 shares of the financial services provider’s stock worth $147,262,000 after buying an additional 65,880 shares in the last quarter. Finally, KBC Group NV increased its stake in Interactive Brokers Group by 0.4% in the 1st quarter. KBC Group NV now owns 2,115,438 shares of the financial services provider’s stock worth $141,883,000 after acquiring an additional 8,844 shares during the last quarter. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Trading Up 3.5%

Shares of NASDAQ IBKR opened at $77.46 on Wednesday. The firm has a fifty day simple moving average of $87.71 and a two-hundred day simple moving average of $82.93. Interactive Brokers Group, Inc. has a 12 month low of $58.95 and a 12 month high of $98.75. The firm has a market capitalization of $131.79 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.22 and a beta of 1.37.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Thursday, October 15th. The financial services provider reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. Interactive Brokers Group had a net margin of 10.03% and a return on equity of 5.38%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. On average, sell-side analysts predict that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Tuesday, December 1st will be given a $0.15 dividend. The ex-dividend date is Tuesday, December 1st. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.0875. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 13.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IBKR. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Interactive Brokers Group in a research report on Wednesday, September 2nd. Jefferies Financial Group upped their price objective on Interactive Brokers Group from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. BMO Capital Markets restated an “outperform” rating and issued a $100.00 price objective (down from $105.00) on shares of Interactive Brokers Group in a report on Friday, October 16th. Weiss Ratings cut shares of Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. Finally, Bank of America reissued a “buy” rating and issued a $116.00 price target (up from $114.00) on shares of Interactive Brokers Group in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.87.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence Harris sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $82.61, for a total transaction of $2,065,250.00. Following the sale, the director directly owned 148,482 shares of the company’s stock, valued at $12,266,098.02. The trade was a 14.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is owned by company insiders.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and portfolio management services to individual investors, institutional clients, financial advisers, hedge funds, proprietary trading firms and introducing brokers. Through its subsidiaries, the company offers access to a broad range of markets and financial instruments, including stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and certain digital assets.

Interactive Brokers provides its services through platforms such as Trader Workstation, IBKR Mobile and the Client Portal, as well as application programming interfaces for automated and institutional trading.