Allianz Asset Management GmbH Cuts Stake in Interactive Brokers Group, Inc. $IBKR

Allianz Asset Management GmbH lessened its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 42.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 483,818 shares of the financial services provider’s stock after selling 349,995 shares during the quarter. Allianz Asset Management GmbH’s holdings in Interactive Brokers Group were worth $33,292,000 at the end of the most recent reporting period.

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

Interactive Brokers Group Trading Down 5.4%

Shares of IBKR opened at $69.49 on Friday. The company’s fifty day simple moving average is $68.97 and its 200-day simple moving average is $66.89. The company has a market cap of $117.86 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.05 and a beta of 1.24. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $78.80.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.50 by $0.15. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $0.51 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. Analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, February 27th. Interactive Brokers Group’s dividend payout ratio is presently 14.48%.

Analysts Set New Price Targets

A number of research analysts have recently commented on IBKR shares. CICC Research started coverage on Interactive Brokers Group in a research report on Monday, October 27th. They set an “outperform” rating and a $78.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Monday, December 29th. Barclays set a $83.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, BMO Capital Markets increased their price target on shares of Interactive Brokers Group from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. 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, the company currently has an average rating of “Buy” and an average target price of $76.39.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 60,200 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 400,000 shares of company stock worth $30,725,122. 2.97% of the stock is currently owned by company insiders.

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.