Norden Group LLC Reduces Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Norden Group LLC reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,609 shares of the financial services provider’s stock after selling 1,026 shares during the quarter. Norden Group LLC’s holdings in Interactive Brokers Group were worth $631,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cozad Asset Management Inc. grew its holdings in Interactive Brokers Group by 7.1% in the fourth quarter. Cozad Asset Management Inc. now owns 25,201 shares of the financial services provider’s stock worth $2,089,000 after purchasing an additional 1,666 shares during the period. Van ECK Associates Corp increased its position in Interactive Brokers Group by 149.0% during the 4th quarter. Van ECK Associates Corp now owns 34,629 shares of the financial services provider’s stock valued at $2,871,000 after buying an additional 20,719 shares in the last quarter. Retirement Systems of Alabama raised its stake in Interactive Brokers Group by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 134,030 shares of the financial services provider’s stock valued at $11,111,000 after buying an additional 463 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in shares of Interactive Brokers Group by 2.7% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 5,763 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 153 shares in the last quarter. Finally, O Brien Greene & Co. Inc increased its holdings in shares of Interactive Brokers Group by 0.7% during the fourth quarter. O Brien Greene & Co. Inc now owns 86,150 shares of the financial services provider’s stock valued at $7,142,000 after acquiring an additional 630 shares in the last quarter. Institutional investors own 23.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group upgraded Interactive Brokers Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $88.00 to $102.00 in a research note on Tuesday, January 9th. UBS Group decreased their target price on Interactive Brokers Group from $108.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, January 9th. Bank of America lifted their price target on shares of Interactive Brokers Group from $147.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Piper Sandler raised their target price on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $115.12 on Wednesday. The company has a market capitalization of $48.47 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.19 and a beta of 0.83. Interactive Brokers Group, Inc. has a 1-year low of $70.83 and a 1-year high of $117.96. The firm’s 50 day simple moving average is $110.36 and its two-hundred day simple moving average is $94.12.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.10. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 6.84%.

Insider Activity

In related news, insider Thomas Aj Frank sold 36,883 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $90.64, for a total transaction of $3,343,075.12. Following the completion of the transaction, the insider now owns 164,484 shares in the company, valued at $14,908,829.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 74,218 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the transaction, the insider now directly owns 234,552 shares in the company, valued at approximately $22,585,012.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Aj Frank sold 36,883 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $90.64, for a total value of $3,343,075.12. Following the transaction, the insider now owns 164,484 shares in the company, valued at approximately $14,908,829.76. The disclosure for this sale can be found here. Insiders have sold 238,150 shares of company stock worth $23,038,797 over the last ninety days. Corporate insiders own 3.21% of the company’s stock.

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.