Janney Montgomery Scott LLC Purchases 148,380 Shares of Interactive Brokers Group, Inc. $IBKR

Janney Montgomery Scott LLC increased its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 201.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,150 shares of the financial services provider’s stock after acquiring an additional 148,380 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Interactive Brokers Group were worth $12,309,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Interactive Brokers Group in the 2nd quarter worth $127,000. City Holding Co. grew its position in Interactive Brokers Group by 300.0% in the 2nd quarter. City Holding Co. now owns 800 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 600 shares during the last quarter. Uncommon Cents Investing LLC grew its position in Interactive Brokers Group by 387.9% in the 2nd quarter. Uncommon Cents Investing LLC now owns 83,520 shares of the financial services provider’s stock worth $4,628,000 after purchasing an additional 66,400 shares during the last quarter. KG&L Capital Management LLC grew its position in Interactive Brokers Group by 97.9% in the 2nd quarter. KG&L Capital Management LLC now owns 4,264 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 2,109 shares during the last quarter. Finally, Western Financial Corp CA grew its position in Interactive Brokers Group by 306.5% in the 2nd quarter. Western Financial Corp CA now owns 24,398 shares of the financial services provider’s stock worth $1,352,000 after purchasing an additional 18,396 shares during the last quarter. Institutional investors own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

IBKR has been the topic of several research analyst reports. BMO Capital Markets initiated coverage on shares of Interactive Brokers Group in a research report on Friday. They issued an “outperform” rating and a $82.00 price target on the stock. Barclays raised their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Citigroup raised their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Piper Sandler raised their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Interactive Brokers Group in a research report on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.47.

Insider Buying and Selling

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider owned 461,500 shares in the company, valued at $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Jonathan Brody sold 116,861 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the transaction, the chief financial officer owned 158,954 shares of the company’s stock, valued at $10,289,092.42. This trade represents a 42.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,205,683 shares of company stock valued at $77,217,965. Corporate insiders own 2.97% of the company’s stock.

Interactive Brokers Group Stock Performance

Shares of NASDAQ IBKR opened at $70.36 on Friday. The stock has a market cap of $119.34 billion, a P/E ratio of 36.17, a P/E/G ratio of 2.91 and a beta of 1.22. The firm has a 50 day moving average price of $64.33 and a 200 day moving average price of $54.56. Interactive Brokers Group, Inc. has a 52-week low of $32.82 and a 52-week high of $71.78.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 earnings per share. Analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

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

Interactive Brokers Group 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.