Principal Financial Group Inc. Has $63.89 Million Stock Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Principal Financial Group Inc. cut its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 361,631 shares of the financial services provider’s stock after selling 4,573 shares during the quarter. Principal Financial Group Inc. owned approximately 0.09% of Interactive Brokers Group worth $63,889,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IBKR. State of New Jersey Common Pension Fund D grew its stake in shares of Interactive Brokers Group by 5.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 38,583 shares of the financial services provider’s stock worth $6,816,000 after buying an additional 2,042 shares during the last quarter. Roxbury Financial LLC acquired a new position in Interactive Brokers Group in the 4th quarter worth about $202,000. PUREfi Wealth LLC bought a new position in Interactive Brokers Group in the fourth quarter valued at about $211,000. New Mexico Educational Retirement Board grew its holdings in shares of Interactive Brokers Group by 5.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 22,228 shares of the financial services provider’s stock worth $3,927,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Interactive Brokers Group by 90.7% in the 4th quarter. Blue Trust Inc. now owns 185 shares of the financial services provider’s stock valued at $33,000 after buying an additional 88 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBKR. Piper Sandler restated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Interactive Brokers Group in a research report on Wednesday, January 22nd. The Goldman Sachs Group increased their price objective on Interactive Brokers Group from $171.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their target price on Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price target on Interactive Brokers Group from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Monday, January 13th. Finally, Citigroup lifted their price objective on Interactive Brokers Group from $180.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.13.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $232.65 on Thursday. The company has a market capitalization of $98.30 billion, a price-to-earnings ratio of 32.95, a P/E/G ratio of 1.65 and a beta of 0.89. Interactive Brokers Group, Inc. has a 1 year low of $102.27 and a 1 year high of $236.53. The business’s 50-day moving average is $199.69 and its 200-day moving average is $166.23.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.22. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 EPS. Analysts anticipate that Interactive Brokers Group, Inc. will post 7.45 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Interactive Brokers Group’s dividend payout ratio is currently 14.16%.

Insiders Place Their Bets

In related news, Director Jill Bright acquired 135 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $219.51 per share, with a total value of $29,633.85. Following the acquisition, the director now owns 2,476 shares of the company’s stock, valued at approximately $543,506.76. This trade represents a 5.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.21% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.