Chase Investment Counsel Corp Trims Position in Interactive Brokers Group, Inc. $IBKR

Chase Investment Counsel Corp trimmed its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 16.7% during the 1st quarter, Holdings Channel reports. The firm owned 30,000 shares of the financial services provider’s stock after selling 6,000 shares during the period. Chase Investment Counsel Corp’s holdings in Interactive Brokers Group were worth $2,012,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. ABN Amro Investment Solutions bought a new position in Interactive Brokers Group in the 1st quarter worth $1,085,000. PNC Financial Services Group Inc. increased its stake in Interactive Brokers Group by 23.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 57,096 shares of the financial services provider’s stock worth $3,829,000 after buying an additional 10,798 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Interactive Brokers Group by 103.4% during the first quarter. Baader Bank Aktiengesellschaft now owns 12,255 shares of the financial services provider’s stock valued at $819,000 after acquiring an additional 6,229 shares during the period. DUTCH ASSET Corp raised its holdings in Interactive Brokers Group by 22.3% during the first quarter. DUTCH ASSET Corp now owns 65,098 shares of the financial services provider’s stock valued at $4,366,000 after acquiring an additional 11,852 shares during the period. Finally, Florida Financial Advisors LLC lifted its position in shares of Interactive Brokers Group by 22.0% in the first quarter. Florida Financial Advisors LLC now owns 31,188 shares of the financial services provider’s stock valued at $2,092,000 after acquiring an additional 5,624 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IBKR. China Renaissance assumed coverage on Interactive Brokers Group in a research note on Tuesday, July 7th. They issued a “hold” rating for the company. Barclays lifted their target price on Interactive Brokers Group from $93.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings raised Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Zacks Research upgraded Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group dropped their price target on 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. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.89.

Insider Buying and Selling

In related news, Director Lawrence E. Harris sold 26,000 shares of the 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 transaction, the director directly owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Interactive Brokers Group Stock Up 3.0%

Shares of IBKR stock opened at $94.42 on Wednesday. The stock has a market cap of $160.17 billion, a P/E ratio of 40.70, a PEG ratio of 2.10 and a beta of 1.33. Interactive Brokers Group, Inc. has a 52 week low of $58.95 and a 52 week high of $97.84. The company’s fifty day simple moving average is $89.76 and its two-hundred day simple moving average is $78.97.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $0.51 earnings per share. On average, analysts anticipate that Interactive Brokers Group, Inc. will post 2.55 EPS for the current fiscal year.

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.