Sumitomo Life Insurance Co. Has $3.28 Million Stock Position in Interactive Brokers Group, Inc. $IBKR

Sumitomo Life Insurance Co. increased its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 289.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,232 shares of the financial services provider’s stock after purchasing an additional 44,017 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Interactive Brokers Group were worth $3,282,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Cantillon Capital Management LLC increased its position in shares of Interactive Brokers Group by 288.7% during the 2nd quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider’s stock worth $709,449,000 after purchasing an additional 9,509,805 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Interactive Brokers Group by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider’s stock worth $1,714,108,000 after purchasing an additional 280,004 shares in the last quarter. American Century Companies Inc. increased its position in shares of Interactive Brokers Group by 1,476.3% during the 1st quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider’s stock worth $237,453,000 after purchasing an additional 1,343,007 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Interactive Brokers Group by 13.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,230,207 shares of the financial services provider’s stock worth $203,710,000 after purchasing an additional 145,870 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Interactive Brokers Group by 45.6% during the 1st quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider’s stock worth $184,668,000 after purchasing an additional 349,255 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IBKR shares. BMO Capital Markets raised their price objective on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. The Goldman Sachs Group restated a “buy” rating and issued a $91.00 price objective on shares of Interactive Brokers Group in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Tuesday, October 14th. CICC Research started coverage on shares of Interactive Brokers Group in a research report on Monday, October 27th. They issued an “outperform” rating and a $78.00 price objective for the company. Finally, Barclays set a $80.00 price objective on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research report on Friday, October 17th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.08.

Interactive Brokers Group Trading Up 2.7%

Shares of NASDAQ IBKR opened at $70.36 on Friday. The firm has a market capitalization of $119.34 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35. The firm’s 50-day moving average is $66.15 and its 200-day moving average is $58.53.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.47 billion. Interactive Brokers Group had a net margin of 10.12% and a return on equity of 5.03%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.61 EPS. As a group, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, December 1st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is 15.38%.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the transaction, the insider owned 461,500 shares of the company’s stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the completion of the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This trade represents a 42.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,220,797 shares of company stock worth $78,337,744 in the last ninety days. Insiders own 2.97% of the company’s stock.

Interactive Brokers Group Company Profile

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.