Amalgamated Bank Takes $265,000 Position in Interactive Brokers Group, Inc. (IBKR)
Amalgamated Bank acquired a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,072 shares of the financial services provider’s stock, valued at approximately $265,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IBKR. BlackRock Inc. grew its holdings in Interactive Brokers Group by 75,132.1% in the 1st quarter. BlackRock Inc. now owns 6,629,451 shares of the financial services provider’s stock valued at $230,176,000 after buying an additional 6,620,639 shares in the last quarter. Cantillon Capital Management LLC acquired a new position in Interactive Brokers Group in the 2nd quarter valued at $72,067,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Interactive Brokers Group by 68.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,974,810 shares of the financial services provider’s stock valued at $73,898,000 after buying an additional 803,838 shares in the last quarter. Bares Capital Management Inc. grew its holdings in Interactive Brokers Group by 24.4% in the 1st quarter. Bares Capital Management Inc. now owns 4,014,605 shares of the financial services provider’s stock valued at $139,387,000 after buying an additional 788,086 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Interactive Brokers Group by 1,338.2% in the 2nd quarter. Victory Capital Management Inc. now owns 445,834 shares of the financial services provider’s stock valued at $16,684,000 after buying an additional 414,835 shares in the last quarter. 15.01% of the stock is currently owned by hedge funds and other institutional investors.
Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). The company had revenue of $387.00 million during the quarter, compared to analysts’ expectations of $377.65 million. Interactive Brokers Group had a net margin of 4.97% and a return on equity of 1.19%. Interactive Brokers Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Friday, September 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Wednesday, August 30th. Interactive Brokers Group’s payout ratio is 38.84%.
A number of research analysts have commented on IBKR shares. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Interactive Brokers Group in a report on Wednesday, October 4th. Zacks Investment Research raised Interactive Brokers Group from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Monday, July 10th. BidaskClub raised Interactive Brokers Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 target price on shares of Interactive Brokers Group in a report on Friday, June 30th. Finally, Rosenblatt Securities started coverage on Interactive Brokers Group in a report on Thursday, July 13th. They set a “neutral” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $40.33.
In related news, insider Thomas Aj Frank sold 16,751 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $40.30, for a total transaction of $675,065.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul Jonathan Brody sold 5,412 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $47.64, for a total value of $257,827.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 937,951 shares of company stock valued at $40,537,649. 3.41% of the stock is owned by company insiders.
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Interactive Brokers Group Profile
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.
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