Marks Group Wealth Management Inc Reduces Position in Interactive Brokers Group, Inc. $IBKR

Marks Group Wealth Management Inc trimmed its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 17.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,719 shares of the financial services provider’s stock after selling 5,965 shares during the period. Marks Group Wealth Management Inc’s holdings in Interactive Brokers Group were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IBKR. AQR Capital Management LLC lifted its position in Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 2,713 shares during the period. Brown Advisory Inc. increased its holdings in shares of Interactive Brokers Group by 307.9% in the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock valued at $803,000 after purchasing an additional 10,943 shares during the period. Cerity Partners LLC acquired a new position in shares of Interactive Brokers Group in the second quarter valued at about $318,000. Daiwa Securities Group Inc. raised its stake in shares of Interactive Brokers Group by 291.2% in the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after purchasing an additional 26,500 shares during the last quarter. Finally, AXA S.A. raised its stake in shares of Interactive Brokers Group by 128.1% in the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 7,197 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were 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 in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. 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 company insiders.

Interactive Brokers Group Stock Down 5.3%

Shares of IBKR stock opened at $92.21 on Friday. Interactive Brokers Group, Inc. has a 52-week low of $58.80 and a 52-week high of $97.84. The stock has a market cap of $156.42 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.26 and a beta of 1.33. The business has a 50-day simple moving average of $89.31 and a 200-day simple moving average of $78.40.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.Interactive Brokers Group’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.51 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were paid a dividend of $0.0875 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was 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 15.09%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IBKR shares. Weiss Ratings upgraded Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Jefferies Financial Group decreased their price objective 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. Wolfe Research initiated coverage on shares of Interactive Brokers Group in a report on Monday, June 8th. They issued an “outperform” rating and a $101.00 price objective on the stock. Finally, BMO Capital Markets increased 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 note on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.89.

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.