Korea Investment CORP Purchases 121,500 Shares of Interactive Brokers Group, Inc. $IBKR

Korea Investment CORP grew its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 80.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 272,572 shares of the financial services provider’s stock after purchasing an additional 121,500 shares during the quarter. Korea Investment CORP’s holdings in Interactive Brokers Group were worth $18,756,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Interactive Brokers Group during the third quarter valued at approximately $27,000. N.E.W. Advisory Services LLC raised its holdings in Interactive Brokers Group by 300.0% in the 2nd quarter. N.E.W. Advisory Services LLC now owns 632 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 474 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Interactive Brokers Group by 1,051.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 760 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 694 shares in the last quarter. Smithfield Trust Co lifted its position in Interactive Brokers Group by 124.0% in the 2nd quarter. Smithfield Trust Co now owns 764 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 423 shares in the last quarter. Finally, Sittner & Nelson LLC boosted its stake in Interactive Brokers Group by 300.0% during the 2nd quarter. Sittner & Nelson LLC now owns 788 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 591 shares during the last quarter. Institutional investors own 23.80% of the company’s stock.

Insiders Place Their Bets

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 145,000 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $77.85, for a total value of $11,288,250.00. Following the transaction, the insider directly owned 155,000 shares of the company’s stock, valued at approximately $12,066,750. This trade represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 400,000 shares of company stock valued at $30,725,122 over the last 90 days. 2.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. BMO Capital Markets lifted their target price on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Zacks Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Interactive Brokers Group in a report on Monday, December 29th. Finally, Barclays set a $83.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.39.

Interactive Brokers Group Trading Up 1.5%

Shares of IBKR stock opened at $68.50 on Wednesday. Interactive Brokers Group, Inc. has a 12-month low of $32.82 and a 12-month high of $79.18. The stock has a market capitalization of $116.19 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.89 and a beta of 1.23. The firm’s 50 day moving average is $72.54 and its 200 day moving average is $68.29.

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

Interactive Brokers Group Announces Dividend

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

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.