Pictet Asset Management Holding SA Sells 327,293 Shares of Interactive Brokers Group, Inc. $IBKR

Pictet Asset Management Holding SA lessened its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 55.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 264,304 shares of the financial services provider’s stock after selling 327,293 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Interactive Brokers Group were worth $17,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Interactive Brokers Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 2,713 shares during the last quarter. Brown Advisory Inc. raised its holdings in Interactive Brokers Group by 307.9% in the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock valued at $803,000 after buying an additional 10,943 shares during the last quarter. Cerity Partners LLC acquired a new stake in Interactive Brokers Group during the 2nd quarter worth approximately $318,000. Daiwa Securities Group Inc. boosted its position in Interactive Brokers Group by 291.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after buying an additional 26,500 shares during the period. Finally, AXA S.A. grew its holdings in Interactive Brokers Group by 128.1% during the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 7,197 shares during the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IBKR has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on shares of 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. Barclays increased their price objective on Interactive Brokers Group from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a research report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 target price for the company. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research report on Friday. Finally, BMO Capital Markets increased their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.25.

Interactive Brokers Group Stock Up 1.2%

IBKR opened at $80.46 on Friday. Interactive Brokers Group, Inc. has a twelve month low of $43.78 and a twelve month high of $82.88. The company has a fifty day moving average of $71.46 and a 200-day moving average of $69.92. The stock has a market cap of $136.49 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.20 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $1.68 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, June 1st will be paid a $0.0875 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 13.79%.

Insider Activity at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was 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 owned 173,482 shares of the company’s stock, valued at $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

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.