Bank of Nova Scotia Has $28.91 Million Position in Interactive Brokers Group, Inc. $IBKR

Bank of Nova Scotia lessened its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 58.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420,134 shares of the financial services provider’s stock after selling 589,208 shares during the period. Bank of Nova Scotia’s holdings in Interactive Brokers Group were worth $28,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in shares of Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 2,713 shares in the last quarter. Prospera Financial Services Inc acquired a new position in Interactive Brokers Group in the second quarter valued at about $208,000. ProShare Advisors LLC lifted its position in Interactive Brokers Group by 392.9% during the second quarter. ProShare Advisors LLC now owns 22,864 shares of the financial services provider’s stock worth $1,267,000 after purchasing an additional 18,225 shares during the period. Allworth Financial LP lifted its position in Interactive Brokers Group by 336.2% during the second quarter. Allworth Financial LP now owns 7,180 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 5,534 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in Interactive Brokers Group by 252.1% during the second quarter. SBI Securities Co. Ltd. now owns 1,000 shares of the financial services provider’s stock worth $55,000 after buying an additional 716 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Interactive Brokers Group Stock Up 3.2%

NASDAQ:IBKR opened at $68.28 on Tuesday. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $79.18. The stock’s 50-day simple moving average is $72.58 and its 200 day simple moving average is $68.42. The firm has a market capitalization of $115.81 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23.

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

Interactive Brokers Group Dividend Announcement

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

Insider Transactions at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 145,000 shares of the company’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 transaction, the insider directly owned 155,000 shares in the company, valued at $12,066,750. This represents a 48.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 400,000 shares of company stock worth $30,725,122. 2.97% of the stock is owned by corporate 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.