Navellier & Associates Inc. Trims Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Navellier & Associates Inc. reduced its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 23.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,209 shares of the financial services provider’s stock after selling 989 shares during the period. Navellier & Associates Inc.’s holdings in Interactive Brokers Group were worth $447,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tortoise Investment Management LLC raised its stake in shares of Interactive Brokers Group by 76.6% during the 2nd quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 111 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in shares of Interactive Brokers Group in the second quarter worth about $32,000. UMB Bank n.a. grew its holdings in Interactive Brokers Group by 350.0% in the third quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 224 shares during the period. Smithfield Trust Co raised its position in Interactive Brokers Group by 80.6% during the third quarter. Smithfield Trust Co now owns 345 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 154 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in Interactive Brokers Group in the 3rd quarter worth about $49,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Interactive Brokers Group Stock Performance

Shares of NASDAQ:IBKR opened at $191.71 on Friday. The business’s 50-day simple moving average is $152.79 and its 200 day simple moving average is $132.93. Interactive Brokers Group, Inc. has a one year low of $72.60 and a one year high of $192.25. The company has a market cap of $81.00 billion, a P/E ratio of 29.27, a PEG ratio of 1.45 and a beta of 0.79.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.03). Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business posted $1.55 EPS. Analysts predict that Interactive Brokers Group, Inc. will post 6.82 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, November 29th. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 15.27%.

Analyst Ratings Changes

IBKR has been the subject of a number of analyst reports. Barclays dropped their price target on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Piper Sandler reaffirmed an “overweight” rating and set a $163.00 target price on shares of Interactive Brokers Group in a research note on Wednesday, October 16th. Finally, UBS Group boosted their price objective on Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.00.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.