Bronte Capital Management Pty Ltd. Sells 643,478 Shares of Interactive Brokers Group, Inc. $IBKR

Bronte Capital Management Pty Ltd. lessened its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 26.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,761,171 shares of the financial services provider’s stock after selling 643,478 shares during the quarter. Interactive Brokers Group makes up approximately 16.5% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its largest holding. Bronte Capital Management Pty Ltd.’s holdings in Interactive Brokers Group were worth $121,186,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IBKR. Huntington National Bank raised its holdings in shares of Interactive Brokers Group by 51.8% during the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 176 shares in the last quarter. Private Wealth Asset Management LLC raised its holdings in Interactive Brokers Group by 300.0% during the second quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after buying an additional 435 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Interactive Brokers Group in the second quarter worth about $32,000. N.E.W. Advisory Services LLC boosted its stake in shares of Interactive Brokers Group by 300.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 632 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 474 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Interactive Brokers Group by 1,051.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 760 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 694 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IBKR has been the subject of several analyst reports. Zacks Research upgraded Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Barclays set a $83.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Piper Sandler set a $80.00 target price on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. 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 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group currently has an average rating of “Buy” and a consensus price target of $76.39.

Insider Activity at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 145,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $77.85, for a total value of $11,288,250.00. Following the completion of the transaction, the insider directly owned 155,000 shares of the company’s stock, valued at $12,066,750. This trade represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 400,000 shares of company stock valued at $30,725,122 in the last three months. Corporate insiders own 2.97% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $73.44 on Thursday. The company has a market cap of $124.56 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24. The firm has a fifty day moving average price of $68.87 and a two-hundred day moving average price of $66.87. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $78.80.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 14.48%.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.