Mirae Asset Global Investments Co. Ltd. Purchases 5,104 Shares of Interactive Brokers Group, Inc. $IBKR

Mirae Asset Global Investments Co. Ltd. grew its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1,072.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,580 shares of the financial services provider’s stock after purchasing an additional 5,104 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Interactive Brokers Group were worth $309,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC bought a new stake in shares of Interactive Brokers Group in the first quarter valued at about $26,000. ORG Partners LLC lifted its holdings in shares of Interactive Brokers Group by 312.9% in the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 363 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of Interactive Brokers Group by 300.0% in the second quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 423 shares in the last quarter. Nvwm LLC bought a new stake in Interactive Brokers Group during the first quarter worth about $33,000. Finally, ASR Vermogensbeheer N.V. bought a new stake in Interactive Brokers Group during the first quarter worth about $33,000. 23.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IBKR shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Interactive Brokers Group in a report on Saturday, September 27th. Barclays reiterated an “overweight” rating and set a $81.00 target price (up previously from $73.00) on shares of Interactive Brokers Group in a report on Wednesday. Piper Sandler upped their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Zacks Research lowered Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, BMO Capital Markets began coverage on Interactive Brokers Group in a report on Friday, October 3rd. They set an “outperform” rating and a $82.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group currently has an average rating of “Moderate Buy” and a consensus price target of $65.47.

Insider Activity at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the sale, the insider owned 461,500 shares of the company’s stock, valued at $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul Jonathan Brody sold 116,861 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the sale, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,205,683 shares of company stock worth $77,217,965 in the last ninety days. 2.97% of the stock is owned by company insiders.

Interactive Brokers Group Trading Down 5.0%

Interactive Brokers Group stock opened at $69.01 on Friday. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $73.35. The stock’s 50 day moving average is $64.87 and its 200-day moving average is $55.47. The company has a market capitalization of $117.05 billion, a price-to-earnings ratio of 35.48, a PEG ratio of 2.98 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities research analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is presently 16.49%.

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.