Truist Financial Corp Sells 18,930 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Truist Financial Corp lowered its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 18.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 83,621 shares of the financial services provider’s stock after selling 18,930 shares during the quarter. Truist Financial Corp’s holdings in Interactive Brokers Group were worth $6,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBKR. Contravisory Investment Management Inc. purchased a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $25,000. Rakuten Securities Inc. purchased a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $34,000. Headlands Technologies LLC purchased a new position in shares of Interactive Brokers Group in the 3rd quarter worth approximately $40,000. Asset Management One Co. Ltd. grew its position in shares of Interactive Brokers Group by 22.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 744 shares of the financial services provider’s stock worth $62,000 after buying an additional 135 shares during the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

IBKR stock opened at $120.12 on Friday. The firm’s fifty day simple moving average is $111.09 and its 200-day simple moving average is $94.66. The company has a market capitalization of $50.57 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. Interactive Brokers Group, Inc. has a 12 month low of $70.83 and a 12 month high of $120.39.

Interactive Brokers Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.25 dividend. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.10. This represents a $1.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Friday, May 31st. Interactive Brokers Group’s dividend payout ratio is 17.09%.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $101.07, for a total value of $5,053,500.00. Following the sale, the insider now directly owns 158,770 shares of the company’s stock, valued at approximately $16,046,883.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Vice Chairman Earl H. Nemser sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $101.07, for a total value of $5,053,500.00. Following the completion of the transaction, the insider now directly owns 158,770 shares in the company, valued at approximately $16,046,883.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Earl H. Nemser sold 25,782 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $95.71, for a total transaction of $2,467,595.22. Following the completion of the transaction, the insider now owns 208,770 shares of the company’s stock, valued at $19,981,376.70. The disclosure for this sale can be found here. Insiders have sold 127,049 shares of company stock valued at $12,549,271 in the last ninety days. Insiders own 3.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. UBS Group dropped their target price on shares of Interactive Brokers Group from $108.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, January 9th. Bank of America boosted their target price on shares of Interactive Brokers Group from $147.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Jefferies Financial Group boosted their target price on shares of Interactive Brokers Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Piper Sandler boosted their target price on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and an average target price of $124.00.

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.