Exchange Traded Concepts LLC Buys New Shares in Interactive Brokers Group, Inc. $IBKR

Exchange Traded Concepts LLC bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 3rd quarter, Holdings Channel.com reports. The fund bought 8,620 shares of the financial services provider’s stock, valued at approximately $593,000.

A number of other hedge funds also recently bought and sold shares of IBKR. Kestra Advisory Services LLC grew its position in shares of Interactive Brokers Group by 31.0% during the first quarter. Kestra Advisory Services LLC now owns 7,064 shares of the financial services provider’s stock worth $1,170,000 after buying an additional 1,670 shares in the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new position in Interactive Brokers Group in the first quarter worth approximately $412,000. Vident Advisory LLC grew its holdings in Interactive Brokers Group by 160.0% during the 1st quarter. Vident Advisory LLC now owns 9,728 shares of the financial services provider’s stock worth $1,611,000 after acquiring an additional 5,987 shares in the last quarter. Quarry LP grew its holdings in Interactive Brokers Group by 486.3% during the 1st quarter. Quarry LP now owns 299 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 248 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Interactive Brokers Group by 13.0% in the 1st quarter. Advisors Asset Management Inc. now owns 5,281 shares of the financial services provider’s stock valued at $874,000 after purchasing an additional 608 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $65.35 on Tuesday. Interactive Brokers Group, Inc. has a 1-year low of $32.82 and a 1-year high of $73.35. The stock has a market cap of $110.84 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 2.02 and a beta of 1.26. The firm has a fifty day moving average price of $66.22 and a 200 day moving average price of $63.81.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The business’s revenue was up 21.2% compared to the same quarter last year. As a group, equities analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, December 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, December 1st. Interactive Brokers Group’s dividend payout ratio is presently 15.38%.

Analyst Upgrades and Downgrades

IBKR has been the subject of several recent analyst reports. Piper Sandler set a $80.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. CICC Research initiated coverage on 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 price target on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $91.00 price objective on shares of Interactive Brokers Group in a research report on Friday, October 17th. Finally, Zacks Research raised Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.19.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 22,000 shares of the firm’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total transaction of $1,487,860.00. Following the transaction, the director directly owned 231,704 shares of the company’s stock, valued at approximately $15,670,141.52. This trade represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jill Bright bought 400 shares of Interactive Brokers Group stock in a transaction dated Thursday, October 23rd. The stock was acquired at an average cost of $65.95 per share, with a total value of $26,380.00. Following the completion of the acquisition, the director directly owned 10,304 shares of the company’s stock, valued at approximately $679,548.80. The trade was a 4.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 55,000 shares of company stock worth $3,767,363. Insiders own 2.97% of the company’s stock.

Interactive Brokers Group 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.