New Mexico Educational Retirement Board Cuts Holdings in Interactive Brokers Group, Inc. $IBKR

New Mexico Educational Retirement Board cut its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 77.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,800 shares of the financial services provider’s stock after selling 69,112 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Interactive Brokers Group were worth $1,362,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Interactive Brokers Group by 2.5% in the 3rd quarter. Allworth Financial LP now owns 7,363 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 183 shares during the last quarter. Swiss Life Asset Management Ltd increased its position in Interactive Brokers Group by 7.2% during the third quarter. Swiss Life Asset Management Ltd now owns 41,288 shares of the financial services provider’s stock valued at $2,841,000 after acquiring an additional 2,780 shares during the last quarter. Groupama Asset Managment bought a new position in Interactive Brokers Group during the third quarter valued at $1,237,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Interactive Brokers Group in the third quarter valued at $3,129,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Interactive Brokers Group in the 3rd quarter worth about $4,204,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 60,200 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $75.30, for a total value of $4,533,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 400,000 shares of company stock valued at $30,725,122. Insiders own 2.97% of the company’s stock.

Interactive Brokers Group Trading Down 3.3%

Shares of IBKR stock opened at $65.47 on Friday. Interactive Brokers Group, Inc. has a twelve month low of $32.82 and a twelve month high of $79.18. The stock has a market capitalization of $111.05 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 1.83 and a beta of 1.23. The stock has a fifty day simple moving average of $72.29 and a two-hundred day simple moving average of $68.52.

Interactive Brokers Group (NASDAQ:IBKR) last announced 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. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. Research analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) 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.