Interactive Brokers Group, Inc. $IBKR Shares Sold by Illumine Investment Management LLC

Illumine Investment Management LLC reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,459 shares of the financial services provider’s stock after selling 12,210 shares during the period. Interactive Brokers Group accounts for approximately 2.8% of Illumine Investment Management LLC’s investment portfolio, making the stock its 7th biggest position. Illumine Investment Management LLC’s holdings in Interactive Brokers Group were worth $3,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IBKR. NWF Advisory Services Inc. increased its stake in shares of Interactive Brokers Group by 7.3% in the first quarter. NWF Advisory Services Inc. now owns 18,833 shares of the financial services provider’s stock valued at $1,263,000 after buying an additional 1,279 shares during the period. Carnegie Investment Counsel bought a new stake in Interactive Brokers Group in the first quarter valued at approximately $221,000. Fifth Third Bancorp increased its position in Interactive Brokers Group by 67.2% during the 1st quarter. Fifth Third Bancorp now owns 318,274 shares of the financial services provider’s stock valued at $21,347,000 after purchasing an additional 127,903 shares during the period. Sovran Advisors LLC raised its stake in Interactive Brokers Group by 15.3% during the first quarter. Sovran Advisors LLC now owns 35,105 shares of the financial services provider’s stock worth $2,354,000 after buying an additional 4,649 shares during the last quarter. Finally, American Trust bought a new position in shares of Interactive Brokers Group in the 1st quarter worth about $316,000. Institutional investors own 23.80% of the company’s stock.

Insider Activity

In other news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IBKR has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. 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 note on Monday, April 6th. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. China Renaissance started coverage on shares of Interactive Brokers Group in a research report on Tuesday, July 7th. They issued a “hold” rating for the company. Finally, Barclays upped their price objective on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.25.

Interactive Brokers Group Trading Down 0.6%

Shares of Interactive Brokers Group stock opened at $93.56 on Tuesday. The business’s fifty day simple moving average is $88.70 and its 200 day simple moving average is $77.78. Interactive Brokers Group, Inc. has a 12 month low of $58.18 and a 12 month high of $97.84. The firm has a market capitalization of $158.71 billion, a P/E ratio of 40.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the firm earned $1.94 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. Analysts predict 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 was paid on Friday, June 12th. Investors of record on Monday, June 1st were paid a $0.0875 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a 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 15.09%.

About Interactive Brokers Group

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.