Bank of New York Mellon Corp Has $170.73 Million Stake in Interactive Brokers Group, Inc. $IBKR

Bank of New York Mellon Corp trimmed its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 23.3% during the third quarter, Holdings Channel reports. The fund owned 2,481,243 shares of the financial services provider’s stock after selling 752,408 shares during the quarter. Bank of New York Mellon Corp’s holdings in Interactive Brokers Group were worth $170,734,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in IBKR. Ballentine Partners LLC grew its stake in Interactive Brokers Group by 1.0% in the 3rd quarter. Ballentine Partners LLC now owns 15,389 shares of the financial services provider’s stock valued at $1,059,000 after buying an additional 145 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in Interactive Brokers Group during the 3rd quarter worth $239,000. Hussman Strategic Advisors Inc. bought a new stake in Interactive Brokers Group during the third quarter valued at about $2,168,000. Truist Financial Corp boosted its holdings in Interactive Brokers Group by 2.6% during the third quarter. Truist Financial Corp now owns 207,923 shares of the financial services provider’s stock valued at $14,307,000 after acquiring an additional 5,258 shares during the period. Finally, Phoenix Financial Ltd. grew its position in shares of Interactive Brokers Group by 119.6% in the third quarter. Phoenix Financial Ltd. now owns 48,497 shares of the financial services provider’s stock valued at $3,337,000 after purchasing an additional 26,417 shares during the last quarter. Institutional investors own 23.80% of the company’s stock.

Analyst Ratings Changes

IBKR has been the subject of several research analyst reports. The Goldman Sachs Group reissued a “buy” rating and set a $91.00 price objective on shares of Interactive Brokers Group in a research report on Friday, October 17th. BMO Capital Markets upped their price target on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Piper Sandler set a $80.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. CICC Research started coverage on shares of Interactive Brokers Group in a research report on Monday, October 27th. They set an “outperform” rating and a $78.00 target price on the stock. Finally, Barclays set a $83.00 price target on shares of Interactive Brokers Group and gave the company an “overweight” rating in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $76.39.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 145,000 shares of the stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $77.85, for a total value of $11,288,250.00. Following the completion of the transaction, the insider directly owned 155,000 shares of the company’s stock, valued at approximately $12,066,750. This represents a 48.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 400,000 shares of company stock valued at $30,725,122. Corporate insiders own 2.97% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $74.88 on Friday. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $78.80. The firm has a market capitalization of $127.01 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.24. The company’s fifty day moving average price is $68.19 and its two-hundred day moving average price is $66.53.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, February 27th. Interactive Brokers Group’s dividend payout ratio is currently 14.48%.

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.