Cresset Asset Management LLC Buys 54,243 Shares of Interactive Brokers Group, Inc. $IBKR

Cresset Asset Management LLC lifted its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 970.4% during the second quarter, HoldingsChannel.com reports. The fund owned 59,833 shares of the financial services provider’s stock after purchasing an additional 54,243 shares during the period. Cresset Asset Management LLC’s holdings in Interactive Brokers Group were worth $3,315,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Interactive Brokers Group by 303.9% in the second quarter. Vanguard Group Inc. now owns 41,810,406 shares of the financial services provider’s stock worth $2,316,715,000 after purchasing an additional 31,458,885 shares during the period. Cantillon Capital Management LLC grew its holdings in shares of Interactive Brokers Group by 288.7% in the 2nd quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider’s stock valued at $709,449,000 after buying an additional 9,509,805 shares during the period. Greenwich Wealth Management LLC increased its position in shares of Interactive Brokers Group by 301.6% in the 2nd quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider’s stock valued at $602,004,000 after buying an additional 8,159,175 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Interactive Brokers Group by 227.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock worth $562,328,000 after buying an additional 7,051,682 shares during the period. Finally, Norges Bank bought a new position in Interactive Brokers Group during the second quarter worth about $284,703,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

Insiders Place Their Bets

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 116,861 shares of Interactive Brokers Group stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total value of $7,564,412.53. Following the sale, the chief financial officer directly owned 158,954 shares in the company, valued at approximately $10,289,092.42. The trade was a 42.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence E. Harris sold 22,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the sale, the director directly owned 231,704 shares in the company, valued at $15,670,141.52. This trade represents a 8.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,026,711 shares of company stock valued at $65,238,880. 2.97% of the stock is owned by insiders.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $64.50 on Monday. The stock has a 50-day simple moving average of $67.68 and a 200 day simple moving average of $62.34. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $73.35. The company has a market cap of $109.40 billion, a PE ratio of 30.97, a PEG ratio of 1.97 and a beta of 1.26.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 EPS. On average, research analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is presently 15.38%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating and issued a $91.00 price target on shares of Interactive Brokers Group in a report on Friday, October 17th. BMO Capital Markets increased their target price on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. CICC Research started coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They set an “outperform” rating and a $78.00 target price on the stock. Piper Sandler set a $80.00 price target on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Interactive Brokers Group in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.