Federated Hermes Inc. Purchases 538,414 Shares of Interactive Brokers Group, Inc. $IBKR

Federated Hermes Inc. grew its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 249.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 754,113 shares of the financial services provider’s stock after purchasing an additional 538,414 shares during the quarter. Federated Hermes Inc.’s holdings in Interactive Brokers Group were worth $41,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBKR. Goldman Sachs Group Inc. boosted its stake in Interactive Brokers Group by 50.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider’s stock worth $98,886,000 after purchasing an additional 199,467 shares during the period. Thrive Wealth Management LLC raised its position in shares of Interactive Brokers Group by 243.8% during the second quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider’s stock valued at $482,000 after buying an additional 6,163 shares during the last quarter. Quinn Opportunity Partners LLC lifted its holdings in shares of Interactive Brokers Group by 158.0% in the second quarter. Quinn Opportunity Partners LLC now owns 311,000 shares of the financial services provider’s stock worth $17,233,000 after buying an additional 190,452 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Interactive Brokers Group by 335.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 374,008 shares of the financial services provider’s stock worth $20,724,000 after acquiring an additional 288,055 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Interactive Brokers Group by 290.7% during the second quarter. American Century Companies Inc. now owns 5,602,511 shares of the financial services provider’s stock valued at $310,435,000 after acquiring an additional 4,168,530 shares in the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 116,861 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the sale, the chief financial officer owned 158,954 shares of the company’s stock, valued at approximately $10,289,092.42. The trade was a 42.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence E. Harris sold 22,000 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total value of $1,487,860.00. Following the completion of the transaction, the director directly owned 231,704 shares in the company, valued at approximately $15,670,141.52. The trade was a 8.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 919,218 shares of company stock valued at $58,588,288 over the last quarter. 2.97% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Stock Performance

IBKR opened at $65.81 on Tuesday. The stock’s 50 day moving average price is $67.62 and its 200-day moving average price is $62.44. Interactive Brokers Group, Inc. has a one year low of $32.82 and a one year high of $73.35. The stock has a market cap of $111.62 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 1.97 and a beta of 1.26.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, December 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, December 1st. Interactive Brokers Group’s payout ratio is 15.38%.

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.