Truist Financial Corp Reduces Stock Position in Interactive Brokers Group, Inc. $IBKR

Truist Financial Corp cut its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200,162 shares of the financial services provider’s stock after selling 7,761 shares during the period. Truist Financial Corp’s holdings in Interactive Brokers Group were worth $12,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in Interactive Brokers Group in the third quarter valued at about $27,000. Blue Trust Inc. increased its position in shares of Interactive Brokers Group by 236.0% during the 4th quarter. Blue Trust Inc. now owns 672 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 472 shares during the last quarter. Ramsey Quantitative Systems bought a new position in shares of Interactive Brokers Group in the 2nd quarter worth approximately $44,000. Darwin Wealth Management LLC purchased a new position in shares of Interactive Brokers Group in the second quarter worth approximately $45,000. Finally, Close Asset Management Ltd bought a new stake in Interactive Brokers Group during the third quarter valued at approximately $60,000. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Performance

Shares of IBKR stock opened at $83.71 on Friday. The stock has a fifty day simple moving average of $72.20 and a two-hundred day simple moving average of $70.28. The firm has a market capitalization of $142.00 billion, a PE ratio of 36.08, a PEG ratio of 2.41 and a beta of 1.32. Interactive Brokers Group, Inc. has a 52-week low of $45.69 and a 52-week high of $87.37.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

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

Insider Transactions at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction that occurred 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 sale, the director owned 173,482 shares in the company, 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 filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a research note on Friday, May 1st. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price on the stock. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, BMO Capital Markets upped their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.25.

Interactive Brokers Group Company 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.