Envestnet Asset Management Inc. Trims Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Envestnet Asset Management Inc. cut its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 7.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 307,261 shares of the financial services provider’s stock after selling 23,355 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Interactive Brokers Group worth $50,879,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Interactive Brokers Group by 151.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 157 shares during the period. Commonwealth Equity Services LLC grew its stake in Interactive Brokers Group by 6.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 17,008 shares of the financial services provider’s stock valued at $3,005,000 after acquiring an additional 990 shares during the period. Rovida Investment Management Ltd acquired a new stake in Interactive Brokers Group in the 4th quarter valued at $17,652,000. Orion Portfolio Solutions LLC acquired a new stake in Interactive Brokers Group in the 4th quarter valued at $242,000. Finally, Proficio Capital Partners LLC acquired a new stake in Interactive Brokers Group in the 4th quarter valued at $7,288,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on IBKR shares. Citigroup lifted their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a research note on Monday, July 7th. The Goldman Sachs Group boosted their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Barclays reissued an “overweight” rating and set a $65.00 target price on shares of Interactive Brokers Group in a research note on Thursday, July 10th. Piper Sandler decreased their target price on shares of Interactive Brokers Group from $52.50 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America decreased their target price on shares of Interactive Brokers Group from $66.25 to $60.75 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Interactive Brokers Group Stock Performance

IBKR stock opened at $59.60 on Tuesday. The company’s 50 day moving average price is $52.34 and its 200 day moving average price is $48.88. Interactive Brokers Group, Inc. has a fifty-two week low of $25.92 and a fifty-two week high of $59.74. The firm has a market capitalization of $100.75 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 2.70 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Interactive Brokers Group had a return on equity of 4.97% and a net margin of 9.53%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Equities analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

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.