Hanseatic Management Services Inc. Invests $2.11 Million in Interactive Brokers Group, Inc. $IBKR

Hanseatic Management Services Inc. purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 31,417 shares of the financial services provider’s stock, valued at approximately $2,107,000. Interactive Brokers Group makes up about 2.0% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 14th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBKR. AQR Capital Management LLC grew its position in shares of Interactive Brokers Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 2,713 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Interactive Brokers Group by 307.9% during the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock valued at $803,000 after acquiring an additional 10,943 shares in the last quarter. Cerity Partners LLC bought a new position in Interactive Brokers Group during the second quarter worth $318,000. Daiwa Securities Group Inc. lifted its stake in Interactive Brokers Group by 291.2% during the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after purchasing an additional 26,500 shares during the last quarter. Finally, AXA S.A. boosted its holdings in Interactive Brokers Group by 128.1% in the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 7,197 shares during the period. 23.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the firm’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 sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $90.53 on Friday. The firm has a market capitalization of $153.57 billion, a PE ratio of 39.02, a P/E/G ratio of 2.07 and a beta of 1.33. Interactive Brokers Group, Inc. has a 1-year low of $58.95 and a 1-year high of $97.84. The business’s fifty day moving average price is $89.43 and its two-hundred day moving average price is $78.48.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 9.65% and a return on equity of 5.19%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 earnings per share. Equities research analysts expect that Interactive Brokers Group, Inc. will post 2.55 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 $0.0875 dividend. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. The ex-dividend date was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 15.09%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Wolfe Research initiated coverage on shares of Interactive Brokers Group in a report on Monday, June 8th. They issued an “outperform” rating and a $101.00 price target for the company. BMO Capital Markets boosted their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler set a $105.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.89.

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.