Bank of Nova Scotia reduced its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR – Get Rating) by 55.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,647 shares of the financial services provider’s stock after selling 209,327 shares during the quarter. Bank of Nova Scotia’s holdings in Interactive Brokers Group were worth $9,228,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC raised its position in shares of Interactive Brokers Group by 692.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 420 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 367 shares during the period. First Horizon Advisors Inc. raised its position in shares of Interactive Brokers Group by 185.2% in the second quarter. First Horizon Advisors Inc. now owns 519 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 337 shares during the period. CWM LLC raised its position in shares of Interactive Brokers Group by 137.5% in the second quarter. CWM LLC now owns 653 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 378 shares during the period. Quent Capital LLC raised its position in shares of Interactive Brokers Group by 104.0% in the first quarter. Quent Capital LLC now owns 718 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 366 shares during the period. Finally, KBC Group NV bought a new position in shares of Interactive Brokers Group in the first quarter valued at about $60,000. 97.04% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Interactive Brokers Group news, Chairman Thomas Peterffy sold 20,000 shares of the stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $76.40, for a total transaction of $1,528,000.00. Following the sale, the chairman now directly owns 2,527,511 shares in the company, valued at $193,101,840.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 160,000 shares of company stock worth $12,545,800 over the last ninety days. Corporate insiders own 5.72% of the company’s stock.
Interactive Brokers Group Stock Performance
Interactive Brokers Group (NASDAQ:IBKR – Get Rating) last released its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.99 by $0.09. The business had revenue of $790.00 million for the quarter, compared to the consensus estimate of $792.70 million. Interactive Brokers Group had a net margin of 9.66% and a return on equity of 3.40%. Interactive Brokers Group’s revenue was up 70.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. On average, analysts forecast that Interactive Brokers Group, Inc. will post 3.93 EPS for the current year.
Interactive Brokers Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. Interactive Brokers Group’s payout ratio is 12.90%.
Analyst Ratings Changes
Several brokerages have recently weighed in on IBKR. Barclays increased their price objective on shares of Interactive Brokers Group from $88.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 19th. Citigroup started coverage on shares of Interactive Brokers Group in a research report on Tuesday, October 11th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, StockNews.com started coverage on shares of Interactive Brokers Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.50.
About Interactive Brokers Group
Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company specializes in executing, clearing, and settling trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), metals, and cryptocurrencies. It also custodies and services accounts for hedge and mutual funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.
- Get a free copy of the StockNews.com research report on Interactive Brokers Group (IBKR)
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