Interactive Brokers Group, Inc. $IBKR Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 15.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 120,400 shares of the financial services provider’s stock after acquiring an additional 15,684 shares during the period. State of Michigan Retirement System’s holdings in Interactive Brokers Group were worth $8,285,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Interactive Brokers Group by 51.8% in the second quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after buying an additional 176 shares in the last quarter. Private Wealth Asset Management LLC grew its position in Interactive Brokers Group by 300.0% in the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 435 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in Interactive Brokers Group in the 2nd quarter valued at about $32,000. N.E.W. Advisory Services LLC increased its stake in Interactive Brokers Group by 300.0% during the second quarter. N.E.W. Advisory Services LLC now owns 632 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 474 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of Interactive Brokers Group by 1,051.5% during the second quarter. First Horizon Advisors Inc. now owns 760 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 694 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Buying and Selling

In other news, Vice Chairman Earl H. Nemser sold 145,000 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $77.85, for a total transaction of $11,288,250.00. Following the completion of the sale, the insider owned 155,000 shares in the company, valued at approximately $12,066,750. The trade was a 48.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 400,000 shares of company stock valued at $30,725,122 in the last 90 days. Corporate insiders own 2.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IBKR shares. The Goldman Sachs Group restated a “buy” rating and issued a $91.00 price objective on shares of Interactive Brokers Group in a report on Friday, October 17th. Barclays set a $83.00 price target on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Piper Sandler set a $80.00 price objective on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. CICC Research initiated coverage on Interactive Brokers Group in a report on Monday, October 27th. They issued an “outperform” rating and a $78.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Interactive Brokers Group has a consensus rating of “Buy” and an average price target of $76.39.

Interactive Brokers Group Price Performance

NASDAQ:IBKR opened at $74.59 on Monday. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $78.80. The firm has a market capitalization of $126.52 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.09 and a beta of 1.24. The business’s fifty day moving average price is $69.16 and its 200 day moving average price is $67.03.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. Interactive Brokers Group had a return on equity of 5.12% and a net margin of 9.44%.The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business earned $0.51 EPS. Interactive Brokers Group’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. Interactive Brokers Group’s dividend payout ratio is 14.48%.

About Interactive Brokers Group

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.