Interactive Brokers Group, Inc. $IBKR Stock Position Cut by Patten Group Inc.

Patten Group Inc. reduced its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 72.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,114 shares of the financial services provider’s stock after selling 8,264 shares during the period. Patten Group Inc.’s holdings in Interactive Brokers Group were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IBKR. Crocodile Capital Partners GmbH bought a new position in Interactive Brokers Group during the fourth quarter valued at about $12,041,000. Covenant Asset Management LLC acquired a new position in Interactive Brokers Group during the fourth quarter worth about $3,028,000. OFI Invest Asset Management bought a new stake in Interactive Brokers Group in the fourth quarter worth about $22,356,000. Leonteq Securities AG bought a new stake in Interactive Brokers Group in the fourth quarter worth about $1,746,000. Finally, Successful Portfolios LLC acquired a new stake in Interactive Brokers Group in the 4th quarter valued at about $1,431,000. 23.80% of the stock is currently owned by institutional investors.

Insider Transactions at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

IBKR has been the subject of several research reports. Piper Sandler raised their price objective on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Weiss Ratings lowered shares of Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 29th. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research report on Friday, May 1st. Barclays upped their price target on Interactive Brokers Group from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research started coverage on Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.22.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $91.33 on Friday. The firm’s 50 day simple moving average is $86.64 and its 200-day simple moving average is $76.40. The company has a market cap of $154.93 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. Interactive Brokers Group, Inc. has a fifty-two week low of $56.33 and a fifty-two week high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates 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 was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 earnings per share. On average, analysts expect that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors 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 is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group’s payout ratio is presently 15.09%.

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.