Royal Bank of Canada Sells 453,404 Shares of Interactive Brokers Group, Inc. $IBKR

Royal Bank of Canada trimmed its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 21.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,682,514 shares of the financial services provider’s stock after selling 453,404 shares during the period. Royal Bank of Canada’s holdings in Interactive Brokers Group were worth $112,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Interactive Brokers Group by 1.0% in the fourth quarter. State Street Corp now owns 18,836,521 shares of the financial services provider’s stock worth $1,211,377,000 after buying an additional 187,763 shares in the last quarter. Cantillon Capital Management LLC grew its holdings in shares of Interactive Brokers Group by 0.8% during 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 increased its position in shares of Interactive Brokers Group by 17.6% during 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 acquiring an additional 1,630,620 shares in the last quarter. Orbis Allan Gray Ltd increased its position 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 acquiring an additional 6,246,715 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Interactive Brokers Group by 44.1% in the 4th quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock worth $533,026,000 after acquiring an additional 2,534,772 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IBKR shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $110.00 price objective (up from $105.00) on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Wolfe Research started coverage on Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 price objective on the stock. Bank of America lifted their price objective on Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group decreased their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.89.

Interactive Brokers Group Trading Up 4.9%

NASDAQ:IBKR opened at $90.48 on Friday. The company has a market cap of $153.49 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 1.59 and a beta of 1.33. The company has a 50 day simple moving average of $90.55 and a two-hundred day simple moving average of $80.02. Interactive Brokers Group, Inc. has a 12 month low of $58.95 and a 12 month high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The company’s revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. Research analysts forecast that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, September 1st will be given a $0.0875 dividend. This represents a $0.35 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 14.00%.

Interactive Brokers Group Profile

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.