Mackenzie Financial Corp Sells 343 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Mackenzie Financial Corp decreased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,605 shares of the financial services provider’s stock after selling 343 shares during the period. Mackenzie Financial Corp’s holdings in Interactive Brokers Group were worth $763,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd increased its holdings in Interactive Brokers Group by 39.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 186 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 53 shares during the period. City Holding Co. purchased a new position in Interactive Brokers Group during the 1st quarter valued at about $33,000. Nvwm LLC purchased a new position in Interactive Brokers Group during the 1st quarter valued at about $33,000. Bellwether Advisors LLC purchased a new position in Interactive Brokers Group during the 4th quarter valued at about $35,000. Finally, LGT Financial Advisors LLC increased its holdings in Interactive Brokers Group by 596.7% during the 4th quarter. LGT Financial Advisors LLC now owns 209 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 39,786 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $66.38, for a total value of $2,640,994.68. Following the completion of the transaction, the insider directly owned 360,114 shares in the company, valued at $23,904,367.32. The trade was a 9.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on IBKR shares. Citigroup boosted their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Piper Sandler lifted their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays lifted their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Wall Street Zen raised Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, The Goldman Sachs Group lifted their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.38.

Interactive Brokers Group Stock Up 0.2%

Shares of IBKR opened at $63.82 on Thursday. The business’s 50 day moving average price is $57.13 and its 200-day moving average price is $50.96. Interactive Brokers Group, Inc. has a 52 week low of $28.05 and a 52 week high of $66.82. The stock has a market cap of $107.89 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.60 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $1.76 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group’s payout ratio is presently 16.49%.

Interactive Brokers Group Company Profile

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.