Meeder Asset Management Inc. Trims Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Meeder Asset Management Inc. lowered its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 57.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,787 shares of the financial services provider’s stock after selling 10,705 shares during the period. Meeder Asset Management Inc.’s holdings in Interactive Brokers Group were worth $522,000 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 IBKR. State Street Corp boosted its stake in shares of Interactive Brokers Group by 1.0% during the 4th quarter. State Street Corp now owns 18,836,521 shares of the financial services provider’s stock worth $1,211,377,000 after purchasing an additional 187,763 shares during the last quarter. Cantillon Capital Management LLC raised its position in shares of Interactive Brokers Group by 0.8% in the fourth quarter. Cantillon Capital Management LLC now owns 12,759,904 shares of the financial services provider’s stock valued at $820,589,000 after buying an additional 95,878 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Interactive Brokers Group by 17.6% in the third quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider’s stock valued at $750,110,000 after buying an additional 1,630,620 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in shares of Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after buying an additional 6,246,715 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Interactive Brokers Group by 44.1% during the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock valued at $533,026,000 after buying an additional 2,534,772 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Interactive Brokers Group Stock Performance

IBKR opened at $91.68 on Tuesday. Interactive Brokers Group, Inc. has a 1 year low of $58.95 and a 1 year high of $97.84. The company’s 50 day simple moving average is $89.57 and its 200 day simple moving average is $78.76. The stock has a market capitalization of $155.52 billion, a PE ratio of 39.52, a P/E/G ratio of 2.07 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. Interactive Brokers Group’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 earnings per share. As a group, sell-side analysts expect that Interactive Brokers Group, Inc. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. China Renaissance initiated coverage on Interactive Brokers Group in a research note on Tuesday, July 7th. They set a “hold” rating on the stock. Piper Sandler set a $105.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Zacks Research raised Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, Bank of America lifted their price objective on Interactive Brokers Group from $83.00 to $106.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Interactive Brokers Group presently has a consensus rating of “Moderate Buy” and an average target price of $93.89.

About Interactive Brokers Group

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.