Assenagon Asset Management S.A. Has $80 Million Holdings in Interactive Brokers Group, Inc. $IBKR

Assenagon Asset Management S.A. grew its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 2,707.9% in the 1st quarter, Holdings Channel reports. The fund owned 1,192,749 shares of the financial services provider’s stock after buying an additional 1,150,271 shares during the period. Assenagon Asset Management S.A.’s holdings in Interactive Brokers Group were worth $79,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Reflection Asset Management bought a new position in shares of Interactive Brokers Group in the 4th quarter valued at $26,000. IMA Advisory Services Inc. boosted its holdings in shares of Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 178 shares in the last quarter. Tobam bought a new stake in Interactive Brokers Group during the 4th quarter worth $30,000. Entrust Financial LLC bought a new stake in Interactive Brokers Group during the 4th quarter worth $31,000. Finally, SHP Wealth Management acquired a new position in Interactive Brokers Group in the 4th quarter worth about $31,000. Institutional investors own 23.80% of the company’s stock.

Insider Transactions at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the transaction, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on IBKR. Jefferies Financial Group dropped their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Piper Sandler upped their price objective on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. BMO Capital Markets raised their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Barclays lifted their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.22.

Interactive Brokers Group Trading Down 2.0%

NASDAQ IBKR opened at $92.79 on Thursday. The firm has a market capitalization of $157.40 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 2.62 and a beta of 1.32. The business’s 50-day moving average price is $85.12 and its two-hundred day moving average price is $75.24. Interactive Brokers Group, Inc. has a 12 month low of $51.83 and a 12 month high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. As a group, analysts forecast that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were given a dividend of $0.0875 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is currently 15.09%.

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.