HighTower Advisors LLC Decreases Stock Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

HighTower Advisors LLC trimmed its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 18.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,082 shares of the financial services provider’s stock after selling 13,554 shares during the quarter. HighTower Advisors LLC’s holdings in Interactive Brokers Group were worth $10,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Interactive Brokers Group during the fourth quarter valued at $120,046,000. Lord Abbett & CO. LLC bought a new position in Interactive Brokers Group during the third quarter valued at $25,085,000. Bamco Inc. NY grew its holdings in Interactive Brokers Group by 16.3% during the third quarter. Bamco Inc. NY now owns 912,608 shares of the financial services provider’s stock valued at $127,181,000 after purchasing an additional 127,640 shares during the period. Progeny 3 Inc. bought a new position in Interactive Brokers Group during the third quarter valued at $17,699,000. Finally, Amundi grew its holdings in Interactive Brokers Group by 748.1% during the fourth quarter. Amundi now owns 141,097 shares of the financial services provider’s stock valued at $26,934,000 after purchasing an additional 124,461 shares during the period. 23.80% of the stock is owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Up 4.4 %

Interactive Brokers Group stock opened at $168.11 on Monday. Interactive Brokers Group, Inc. has a 52 week low of $103.69 and a 52 week high of $236.53. The business has a 50-day simple moving average of $204.67 and a 200 day simple moving average of $175.42. The stock has a market cap of $71.04 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.59 and a beta of 0.99.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.81 by $0.22. Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The firm’s revenue was up 21.8% on a year-over-year basis. On average, research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Friday, February 28th. Interactive Brokers Group’s payout ratio is 14.16%.

Insiders Place Their Bets

In other news, Director Jill Bright purchased 135 shares of the company’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $219.51 per share, with a total value of $29,633.85. Following the completion of the purchase, the director now directly owns 2,476 shares in the company, valued at approximately $543,506.76. This trade represents a 5.77 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on IBKR. UBS Group increased their price objective on Interactive Brokers Group from $225.00 to $265.00 and gave the company a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a report on Monday, January 13th. Barclays raised their price target on Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. The Goldman Sachs Group raised their price target on Interactive Brokers Group from $171.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Interactive Brokers Group in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.13.

Interactive Brokers Group Profile

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.