Franklin Resources Inc. Acquires 34,962 Shares of Interactive Brokers Group, Inc. $IBKR

Franklin Resources Inc. boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 297.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,710 shares of the financial services provider’s stock after purchasing an additional 34,962 shares during the quarter. Franklin Resources Inc.’s holdings in Interactive Brokers Group were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Compound Planning Inc. increased its holdings in shares of Interactive Brokers Group by 1.1% in the 1st quarter. Compound Planning Inc. now owns 5,784 shares of the financial services provider’s stock worth $958,000 after buying an additional 62 shares during the last quarter. USS Investment Management Ltd grew its position in Interactive Brokers Group by 0.4% in the first quarter. USS Investment Management Ltd now owns 20,161 shares of the financial services provider’s stock worth $3,339,000 after acquiring an additional 76 shares in the last quarter. Measured Wealth Private Client Group LLC increased its stake in Interactive Brokers Group by 4.4% in the first quarter. Measured Wealth Private Client Group LLC now owns 3,012 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 127 shares during the last quarter. Summit Financial LLC raised its position in Interactive Brokers Group by 9.0% during the first quarter. Summit Financial LLC now owns 1,585 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 131 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Interactive Brokers Group by 0.3% during the first quarter. Sei Investments Co. now owns 59,000 shares of the financial services provider’s stock worth $10,412,000 after purchasing an additional 160 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $91.00 price target on shares of Interactive Brokers Group in a research report on Friday, October 17th. CICC Research began coverage on shares of Interactive Brokers Group in a research note on Monday, October 27th. They issued an “outperform” rating and a $78.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Interactive Brokers Group in a report on Tuesday, November 25th. Finally, Piper Sandler set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Interactive Brokers Group Stock Up 2.2%

NASDAQ:IBKR opened at $64.96 on Thursday. The firm has a market capitalization of $110.18 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.94 and a beta of 1.26. The company has a fifty day moving average of $67.69 and a 200 day moving average of $62.08. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 earnings per share. As a group, analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, December 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is presently 15.38%.

Insiders Place Their Bets

In related news, Director Jill Bright purchased 400 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were acquired at an average price of $65.95 per share, for a total transaction of $26,380.00. Following the completion of the acquisition, the director directly owned 10,304 shares in the company, valued at approximately $679,548.80. The trade was a 4.04% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence E. Harris sold 10,645 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $69.00, for a total transaction of $734,505.00. Following the transaction, the director directly owned 198,704 shares in the company, valued at approximately $13,710,576. The trade was a 5.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,026,711 shares of company stock worth $65,238,880. 2.97% of the stock is currently owned by company insiders.

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.