Kestra Private Wealth Services LLC Takes $648,000 Position in Interactive Brokers Group, Inc. $IBKR

Kestra Private Wealth Services LLC bought a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,658 shares of the financial services provider’s stock, valued at approximately $648,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBKR. Reflection Asset Management acquired a new position in Interactive Brokers Group in the fourth quarter valued at approximately $26,000. IMA Advisory Services Inc. grew its stake 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 worth $29,000 after purchasing an additional 178 shares during the period. Tobam purchased a new position in shares of Interactive Brokers Group during the 4th quarter valued at approximately $30,000. Entrust Financial LLC acquired a new position in shares of Interactive Brokers Group in the 4th quarter valued at $31,000. Finally, SHP Wealth Management acquired a new position in shares of Interactive Brokers Group in the 4th quarter valued at $31,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the transaction, the director owned 173,482 shares in the company, valued at $13,345,970.26. This represents a 13.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $91.33 on Friday. The business’s 50 day moving average price is $86.38 and its 200-day moving average price is $76.29. Interactive Brokers Group, Inc. has a 1 year low of $56.33 and a 1 year high of $97.84. The firm has a market capitalization of $154.93 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.58 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share 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 analysts’ expectations of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. On average, sell-side analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on IBKR. Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price target on the stock. Barclays upped their price objective 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. The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research note on Friday, May 1st. Wolfe Research initiated coverage on Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 target price on the stock. Finally, Piper Sandler raised their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.22.

Interactive Brokers Group Company 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.