Citigroup Inc. Has $83.32 Million Stake in Interactive Brokers Group, Inc. $IBKR

Citigroup Inc. boosted its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 299.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,503,620 shares of the financial services provider’s stock after acquiring an additional 1,126,887 shares during the period. Citigroup Inc.’s holdings in Interactive Brokers Group were worth $83,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Interactive Brokers Group during the 1st quarter worth $26,000. ORG Partners LLC lifted its position in Interactive Brokers Group by 312.9% during the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 363 shares during the period. Huntington National Bank grew its stake in Interactive Brokers Group by 51.8% during the second quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock worth $29,000 after buying an additional 176 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in Interactive Brokers Group by 300.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after buying an additional 423 shares during the period. Finally, Private Wealth Asset Management LLC increased its holdings in Interactive Brokers Group by 300.0% in the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after buying an additional 435 shares during the period. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Performance

Shares of NASDAQ:IBKR opened at $63.27 on Wednesday. The company has a fifty day moving average of $67.74 and a 200-day moving average of $60.99. The company has a market capitalization of $107.31 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-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. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.Interactive Brokers Group’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. On average, equities analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders 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 dividend yield of 0.5%. The ex-dividend date is Monday, December 1st. Interactive Brokers Group’s payout ratio is 15.38%.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 22,000 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the sale, the director directly owned 231,704 shares of the company’s stock, valued at $15,670,141.52. The trade was a 8.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of the company’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 of the company’s stock, valued at approximately $10,289,092.42. This trade represents a 42.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,026,711 shares of company stock valued at $65,238,880 in the last ninety days. 2.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

IBKR has been the topic of several analyst reports. BMO Capital Markets increased 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 report on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and set a $91.00 target price on shares of Interactive Brokers Group in a research note on Friday, October 17th. Barclays set a $80.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Friday, October 17th. Piper Sandler set a $80.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, CICC Research started coverage on Interactive Brokers Group in a research note on Monday, October 27th. They issued an “outperform” rating and a $78.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.08.

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.