Harfst & Associates Inc. Acquires 29,807 Shares of Interactive Brokers Group, Inc. $IBKR

Harfst & Associates Inc. grew its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 812.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,474 shares of the financial services provider’s stock after buying an additional 29,807 shares during the period. Harfst & Associates Inc.’s holdings in Interactive Brokers Group were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Avantax Advisory Services Inc. grew its holdings in Interactive Brokers Group by 10.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,165 shares of the financial services provider’s stock valued at $1,021,000 after buying an additional 584 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Interactive Brokers Group by 18.0% in the first quarter. HB Wealth Management LLC now owns 2,220 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 339 shares in the last quarter. TD Asset Management Inc increased its position in Interactive Brokers Group by 35.2% in the first quarter. TD Asset Management Inc now owns 25,350 shares of the financial services provider’s stock worth $4,198,000 after purchasing an additional 6,601 shares during the last quarter. LPL Financial LLC lifted its position in Interactive Brokers Group by 12.0% during the first quarter. LPL Financial LLC now owns 169,420 shares of the financial services provider’s stock valued at $28,054,000 after purchasing an additional 18,148 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Interactive Brokers Group in the 1st quarter worth $26,000. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Up 1.6%

Interactive Brokers Group stock opened at $64.19 on Thursday. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $73.35. The business has a fifty day moving average of $67.74 and a two-hundred day moving average of $61.61. The firm has a market cap of $108.88 billion, a P/E ratio of 30.82, a P/E/G ratio of 2.16 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 EPS. Equities analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

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

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 10,645 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $69.00, for a total transaction of $734,505.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jill Bright purchased 400 shares of the firm’s stock in a transaction on Thursday, October 23rd. The stock was acquired at an average price of $65.95 per share, with a total value of $26,380.00. Following the completion of the purchase, the director owned 10,304 shares of the company’s stock, valued at $679,548.80. The trade was a 4.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 1,026,711 shares of company stock worth $65,238,880 over the last three months. Corporate insiders own 2.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on IBKR shares. CICC Research assumed coverage on shares of Interactive Brokers Group in a report on Monday, October 27th. They issued an “outperform” rating and a $78.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Interactive Brokers Group in a research report on Tuesday. The Goldman Sachs Group restated a “buy” rating and issued a $91.00 target price on shares of Interactive Brokers Group in a report on Friday, October 17th. BMO Capital Markets upped their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Barclays set a $80.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.08.

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.