Congress Asset Management Co. Invests $6.66 Million in Interactive Brokers Group, Inc. $IBKR

Congress Asset Management Co. bought a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 103,595 shares of the financial services provider’s stock, valued at approximately $6,662,000.

Several other hedge funds have also modified their holdings of IBKR. Vanguard Group Inc. lifted its position in Interactive Brokers Group by 26.4% during the 3rd quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider’s stock worth $3,637,234,000 after acquiring an additional 11,048,679 shares in the last quarter. State Street Corp grew its position in Interactive Brokers Group by 23.2% in the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock valued at $1,283,221,000 after acquiring an additional 3,517,729 shares in the last quarter. Wellington Management Group LLP grew its position in Interactive Brokers Group by 17.6% in the third quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider’s stock valued at $750,110,000 after acquiring an additional 1,630,620 shares in the last quarter. Greenwich Wealth Management LLC raised its stake in shares of Interactive Brokers Group by 301.6% during the second quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider’s stock valued at $602,004,000 after purchasing an additional 8,159,175 shares during the period. Finally, Orbis Allan Gray Ltd raised its stake in shares of Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after purchasing an additional 6,246,715 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 60,200 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $75.30, for a total transaction of $4,533,060.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 400,000 shares of company stock valued at $30,725,122 over the last three months. 2.80% of the stock is owned by insiders.

Interactive Brokers Group Trading Up 3.9%

IBKR stock opened at $68.68 on Thursday. The firm has a 50 day simple moving average of $72.09 and a 200-day simple moving average of $68.62. The company has a market capitalization of $116.51 billion, a P/E ratio of 31.01, a PEG ratio of 1.85 and a beta of 1.23. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $79.18.

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

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, February 27th. Interactive Brokers Group’s dividend payout ratio (DPR) is 14.48%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IBKR shares. Barclays set a $83.00 target price on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research note on Wednesday, January 21st. BMO Capital Markets lifted their price target on shares of Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Interactive Brokers Group in a report on Monday, December 29th. Finally, Zacks Research cut shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group has an average rating of “Moderate Buy” and an average price target of $76.39.

Interactive Brokers Group Profile

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.