JPMorgan Chase & Co. Trims Stock Position in Interactive Brokers Group, Inc. $IBKR

JPMorgan Chase & Co. reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 17.8% during the fourth quarter, Holdings Channel reports. The firm owned 7,440,816 shares of the financial services provider’s stock after selling 1,609,640 shares during the quarter. JPMorgan Chase & Co.’s holdings in Interactive Brokers Group were worth $478,519,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in IBKR. AQR Capital Management LLC grew its position in shares of Interactive Brokers Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after buying an additional 2,713 shares during the period. Brown Advisory Inc. grew its position in shares of Interactive Brokers Group by 307.9% in the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after buying an additional 10,943 shares during the period. Cerity Partners LLC purchased a new stake in shares of Interactive Brokers Group in the 2nd quarter worth about $318,000. Daiwa Securities Group Inc. grew its position in shares of Interactive Brokers Group by 291.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after buying an additional 26,500 shares during the period. Finally, AXA S.A. grew its position in shares of Interactive Brokers Group by 128.1% in the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after buying an additional 7,197 shares during the period. 23.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IBKR shares. Barclays upped their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Piper Sandler upped their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods started coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price on the stock. Zacks Research downgraded shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.22.

Insider Transactions at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the transaction, the director owned 173,482 shares in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by insiders.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $85.42 on Thursday. The stock has a market cap of $144.90 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 2.39 and a beta of 1.32. The firm’s 50-day moving average is $80.32 and its 200 day moving average is $73.14. Interactive Brokers Group, Inc. has a 1 year low of $49.30 and a 1 year high of $91.02.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. Interactive Brokers Group’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. On average, equities analysts expect that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, June 1st. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 15.09%.

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.