Congress Asset Management Co. Purchases New Stake in Interactive Brokers Group, Inc. $IBKR

Congress Asset Management Co. acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 103,595 shares of the financial services provider’s stock, valued at approximately $6,662,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Interactive Brokers Group by 301.3% during the second quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock worth $838,410,000 after purchasing an additional 11,360,260 shares during the period. Vanguard Group Inc. lifted its position in shares of Interactive Brokers Group by 26.4% in the 3rd quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider’s stock worth $3,637,234,000 after buying an additional 11,048,679 shares during the last quarter. Greenwich Wealth Management LLC boosted 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 buying an additional 8,159,175 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after buying an additional 6,246,715 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Interactive Brokers Group by 225.4% during the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after buying an additional 5,260,923 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 60,200 shares of Interactive Brokers Group stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $75.30, for a total transaction of $4,533,060.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 400,000 shares of company stock worth $30,725,122 over the last quarter. Insiders own 2.80% of the company’s stock.

Interactive Brokers Group Stock Performance

Interactive Brokers Group stock opened at $68.68 on Thursday. Interactive Brokers Group, Inc. has a one year low of $32.82 and a one year high of $79.18. The company has a 50-day simple moving average of $72.09 and a 200-day simple moving average of $68.62. The firm has a market capitalization of $116.51 billion, a P/E ratio of 31.01, a P/E/G ratio of 1.85 and a beta of 1.23.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. The firm had revenue of $1.64 billion for 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%. Interactive Brokers Group’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. As a group, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.08 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 14.48%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays set a $83.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interactive Brokers Group in a report on Monday, December 29th. BMO Capital Markets increased their price target on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.39.

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.