Advisory Services Network LLC lifted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1,080.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,970 shares of the financial services provider’s stock after purchasing an additional 4,549 shares during the period. Advisory Services Network LLC’s holdings in Interactive Brokers Group were worth $309,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. TLP Group LLC purchased a new position in Interactive Brokers Group in the first quarter valued at $168,000. Mckinley Capital Management LLC Delaware boosted its holdings in Interactive Brokers Group by 66.2% in the first quarter. Mckinley Capital Management LLC Delaware now owns 3,146 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 1,253 shares during the period. Meeder Asset Management Inc. boosted its holdings in Interactive Brokers Group by 595.4% in the second quarter. Meeder Asset Management Inc. now owns 3,456 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 2,959 shares during the period. Toronto Dominion Bank boosted its holdings in Interactive Brokers Group by 100.0% in the first quarter. Toronto Dominion Bank now owns 4,000 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 2,000 shares during the period. Finally, Financial Gravity Wealth Inc. purchased a new position in Interactive Brokers Group in the first quarter valued at $277,000. Hedge funds and other institutional investors own 15.36% of the company’s stock.
Interactive Brokers Group opened at $60.45 on Tuesday, Marketbeat Ratings reports. Interactive Brokers Group, Inc. has a 1-year low of $39.70 and a 1-year high of $80.32. The firm has a market capitalization of $24.75 billion, a price-to-earnings ratio of 39.29, a price-to-earnings-growth ratio of 1.36 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, August 30th. Interactive Brokers Group’s dividend payout ratio is presently 26.14%.
IBKR has been the subject of a number of recent research reports. ValuEngine upgraded Interactive Brokers Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered Interactive Brokers Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. BidaskClub lowered Interactive Brokers Group from a “buy” rating to a “hold” rating in a report on Friday, June 8th. SunTrust Banks lifted their target price on Interactive Brokers Group to $75.00 and gave the company a “hold” rating in a report on Wednesday, April 18th. Finally, Wells Fargo & Co reiterated an “underperform” rating and issued a $60.00 target price (up from $52.00) on shares of Interactive Brokers Group in a report on Wednesday, April 18th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Interactive Brokers Group has a consensus rating of “Hold” and a consensus target price of $69.86.
Interactive Brokers Group Profile
Interactive Brokers Group, Inc operates as an automated electronic broker in approximately 120 electronic exchanges and market centers worldwide. It specializes in executing and clearing trades in securities, futures, foreign exchange instruments, bonds, and mutual funds. The company custodies and services accounts for hedge and mutual funds, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.
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