Interactive Brokers Group, Inc. $IBKR Position Boosted by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 302.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,581 shares of the financial services provider’s stock after buying an additional 141,001 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Interactive Brokers Group were worth $10,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cantillon Capital Management LLC grew its holdings in Interactive Brokers Group by 288.7% in the 2nd quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider’s stock worth $709,449,000 after buying an additional 9,509,805 shares in the last quarter. Vanguard Group Inc. grew its holdings in Interactive Brokers Group by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider’s stock worth $1,714,108,000 after buying an additional 280,004 shares in the last quarter. American Century Companies Inc. grew its holdings in Interactive Brokers Group by 1,476.3% in the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider’s stock worth $237,453,000 after buying an additional 1,343,007 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Interactive Brokers Group by 13.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider’s stock worth $203,710,000 after buying an additional 145,870 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Interactive Brokers Group by 45.6% in the 1st quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider’s stock worth $184,668,000 after buying an additional 349,255 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IBKR has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Tuesday, October 14th. BMO Capital Markets upped their target price on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and issued a $91.00 target price on shares of Interactive Brokers Group in a research report on Friday, October 17th. CICC Research initiated coverage on Interactive Brokers Group in a research report on Monday, October 27th. They issued an “outperform” rating and a $78.00 target price for the company. Finally, Piper Sandler set a $80.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Insider Activity

In related news, Director Jill Bright bought 400 shares of Interactive Brokers Group stock in a transaction dated Thursday, October 23rd. The stock was acquired at an average cost of $65.95 per share, with a total value of $26,380.00. Following the completion of the acquisition, the director directly owned 10,304 shares in the company, valued at approximately $679,548.80. This trade represents a 4.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence E. Harris sold 10,645 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $69.00, for a total value of $734,505.00. Following the sale, the director directly owned 198,704 shares of the company’s stock, valued at approximately $13,710,576. This represents a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,220,797 shares of company stock valued at $78,337,744 over the last three months. Insiders own 2.97% of the company’s stock.

Interactive Brokers Group Stock Up 2.7%

IBKR opened at $70.36 on Monday. The firm has a market cap of $119.34 billion, a PE ratio of 33.79, a P/E/G ratio of 2.16 and a beta of 1.22. The business has a fifty day simple moving average of $66.15 and a 200-day simple moving average of $58.67. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the business posted $1.61 earnings per share. Interactive Brokers Group’s revenue was up 21.2% compared to the same quarter last year. On average, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group’s dividend payout ratio is currently 15.38%.

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.