JPMorgan Chase & Co. Sells 1,097,942 Shares of Interactive Brokers Group, Inc. $IBKR

JPMorgan Chase & Co. lessened its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,050,456 shares of the financial services provider’s stock after selling 1,097,942 shares during the period. JPMorgan Chase & Co. owned approximately 0.53% of Interactive Brokers Group worth $622,768,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IBKR. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Interactive Brokers Group in the third quarter worth $27,000. Huntington National Bank boosted its stake in Interactive Brokers Group by 51.8% in the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 176 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new position in Interactive Brokers Group in the 2nd quarter worth about $32,000. N.E.W. Advisory Services LLC grew its position in Interactive Brokers Group by 300.0% during the 2nd quarter. N.E.W. Advisory Services LLC now owns 632 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 474 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake 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 purchasing an additional 694 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Down 2.0%

NASDAQ IBKR opened at $73.29 on Wednesday. The company has a 50-day moving average price of $70.64 and a 200-day moving average price of $67.54. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $79.18. The firm has a market capitalization of $124.31 billion, a P/E ratio of 33.09, a PEG ratio of 2.09 and a beta of 1.24.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results 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. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

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

Insider Transactions at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 60,200 shares of Interactive Brokers Group stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Insiders sold a total of 400,000 shares of company stock worth $30,725,122 over the last three months. Insiders own 2.97% of the company’s stock.

Analyst Upgrades and Downgrades

IBKR has been the subject of a number of recent analyst reports. Barclays set a $83.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday, January 21st. CICC Research initiated coverage on Interactive Brokers Group in a research note on Monday, October 27th. They issued an “outperform” rating and a $78.00 price target for the company. Zacks Research raised Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Monday, December 29th. Finally, BMO Capital Markets boosted their target price on Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.