Allianz Asset Management GmbH Boosts Stock Position in Interactive Brokers Group, Inc. $IBKR

Allianz Asset Management GmbH grew its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 185.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 833,813 shares of the financial services provider’s stock after acquiring an additional 541,672 shares during the period. Allianz Asset Management GmbH’s holdings in Interactive Brokers Group were worth $46,202,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IBKR. GAMMA Investing LLC lifted its position in shares of Interactive Brokers Group by 34.7% during the first quarter. GAMMA Investing LLC now owns 2,560 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 660 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Interactive Brokers Group by 245.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 48,364 shares of the financial services provider’s stock worth $8,009,000 after acquiring an additional 34,364 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Interactive Brokers Group by 4.1% during the first quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 79 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Interactive Brokers Group by 3.7% during the first quarter. QRG Capital Management Inc. now owns 5,857 shares of the financial services provider’s stock worth $970,000 after acquiring an additional 208 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Interactive Brokers Group by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 12,756 shares of the financial services provider’s stock worth $2,112,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Down 3.3%

NASDAQ IBKR opened at $66.23 on Friday. The stock’s 50-day simple moving average is $65.30 and its two-hundred day simple moving average is $56.38. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $73.35. The company has a market capitalization of $112.34 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.80 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 5.17% and a net margin of 10.12%.The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business posted $1.61 earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities analysts expect 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. Shareholders of record on Monday, December 1st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 16.49%.

Analysts Set New Price Targets

IBKR has been the topic of several recent research reports. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. 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. Citigroup increased their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Barclays set a $80.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets increased their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.34.

Insiders Place Their Bets

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 17,058 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the sale, the chief financial officer owned 28,289 shares in the company, valued at $1,860,850.42. This trade represents a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 1,205,683 shares of company stock worth $77,217,965 in the last quarter. Company 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.