Moran Wealth Management LLC Increases Stake in Interactive Brokers Group, Inc. $IBKR

Moran Wealth Management LLC increased its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 62.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,986 shares of the financial services provider’s stock after purchasing an additional 63,993 shares during the period. Moran Wealth Management LLC’s holdings in Interactive Brokers Group were worth $11,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Reflection Asset Management acquired a new position in Interactive Brokers Group during the 4th quarter valued at approximately $26,000. IMA Advisory Services Inc. lifted its stake in shares of Interactive Brokers Group by 64.3% during the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock worth $29,000 after buying an additional 178 shares during the period. Tobam acquired a new stake in shares of Interactive Brokers Group during the fourth quarter worth $30,000. Entrust Financial LLC purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at $31,000. Finally, SHP Wealth Management purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a research report on Friday, May 1st. Weiss Ratings cut Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Wolfe Research assumed coverage on Interactive Brokers Group in a research note on Monday, June 8th. They set an “outperform” rating and a $101.00 price target on the stock. Piper Sandler increased their price objective on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, Barclays raised their price objective on Interactive Brokers Group from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.22.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the transaction, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by insiders.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $91.33 on Friday. The firm’s fifty day moving average is $86.64 and its two-hundred day moving average is $76.40. The firm has a market cap of $154.93 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 2.52 and a beta of 1.33. Interactive Brokers Group, Inc. has a one year low of $56.33 and a one year high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities research analysts predict that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were given a $0.0875 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is currently 15.09%.

Interactive Brokers Group Company 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.