Principal Financial Group Inc. Sells 818,037 Shares of Interactive Brokers Group, Inc. $IBKR

Principal Financial Group Inc. reduced its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 62.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501,892 shares of the financial services provider’s stock after selling 818,037 shares during the quarter. Principal Financial Group Inc.’s holdings in Interactive Brokers Group were worth $34,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ballentine Partners LLC boosted its stake in Interactive Brokers Group by 1.0% in the third quarter. Ballentine Partners LLC now owns 15,389 shares of the financial services provider’s stock worth $1,059,000 after purchasing an additional 145 shares in the last quarter. Huntington National Bank lifted its position in Interactive Brokers Group by 51.8% during the 2nd 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. Pullen Investment Management LLC lifted its position in Interactive Brokers Group by 1.0% during the 3rd quarter. Pullen Investment Management LLC now owns 19,748 shares of the financial services provider’s stock worth $1,359,000 after buying an additional 200 shares in the last quarter. World Investment Advisors grew its holdings in Interactive Brokers Group by 3.0% during the 3rd quarter. World Investment Advisors now owns 6,852 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 202 shares during the last quarter. Finally, PUREfi Wealth LLC grew its holdings in Interactive Brokers Group by 4.7% during the 3rd quarter. PUREfi Wealth LLC now owns 4,554 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 206 shares during the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler set a $80.00 target price on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Barclays set a $83.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday, January 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $91.00 price objective on shares of Interactive Brokers Group in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Monday, December 29th. Finally, Zacks Research raised Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.39.

Interactive Brokers Group Stock Performance

IBKR opened at $69.49 on Friday. The company has a fifty day moving average price of $68.97 and a two-hundred day moving average price of $66.89. The firm has a market capitalization of $117.86 billion, a PE ratio of 31.37, a P/E/G ratio of 2.05 and a beta of 1.24. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $78.80.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.15. Interactive Brokers Group had a return on equity of 5.12% and a net margin of 9.44%.The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.51 EPS. The firm’s revenue was up 18.5% on a year-over-year basis. Equities analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is 14.48%.

Insider Buying and Selling at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 60,200 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $75.30, for a total transaction of $4,533,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 400,000 shares of company stock valued at $30,725,122. Company insiders own 2.97% of the company’s stock.

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.