B. Riley Wealth Advisors Inc. Invests $874,000 in Interactive Brokers Group, Inc. $IBKR

B. Riley Wealth Advisors Inc. purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,780 shares of the financial services provider’s stock, valued at approximately $874,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 buying an additional 31,458,885 shares during the last quarter. State Street Corp grew its position in shares of Interactive Brokers Group by 301.3% during the 2nd quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock worth $838,410,000 after buying an additional 11,360,260 shares in the last quarter. Cantillon Capital Management LLC lifted its position 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 worth $709,449,000 after purchasing an additional 9,509,805 shares during the period. Greenwich Wealth Management LLC increased its holdings 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 acquiring an additional 8,159,175 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Interactive Brokers Group by 227.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock valued at $562,328,000 after buying an additional 7,051,682 shares in the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IBKR. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Monday, December 8th. Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. BMO Capital Markets boosted their target price on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Piper Sandler set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, CICC Research initiated coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They issued an “outperform” rating and a $78.00 price objective for the company. One investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

Insider Activity

In other news, Director Jill Bright purchased 400 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were bought at an average cost of $65.95 per share, with a total value of $26,380.00. Following the purchase, the director directly owned 10,304 shares of the company’s stock, valued at approximately $679,548.80. This trade represents a 4.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence E. Harris sold 10,645 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $69.00, for a total value of $734,505.00. Following the completion of the sale, the director directly owned 198,704 shares in the company, valued at approximately $13,710,576. The trade was a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 409,047 shares of company stock worth $26,432,850 over the last three months. 2.97% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $62.87 on Tuesday. The stock’s 50-day moving average is $67.15 and its two-hundred day moving average is $62.89. The company has a market cap of $106.64 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.95 and a beta of 1.26. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $73.35.

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

Interactive Brokers Group Profile

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.