Marvin & Palmer Associates Inc. Buys 26,885 Shares of Interactive Brokers Group, Inc. $IBKR

Marvin & Palmer Associates Inc. boosted its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 29.8% during the third quarter, Holdings Channel reports. The fund owned 117,225 shares of the financial services provider’s stock after acquiring an additional 26,885 shares during the period. Interactive Brokers Group makes up approximately 7.1% of Marvin & Palmer Associates Inc.’s holdings, making the stock its 4th biggest holding. Marvin & Palmer Associates Inc.’s holdings in Interactive Brokers Group were worth $8,248,000 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 IBKR. AQR Capital Management LLC grew its stake in shares of Interactive Brokers Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock valued at $2,269,000 after purchasing an additional 2,713 shares during the last quarter. Assetmark Inc. raised its position in Interactive Brokers Group by 369.9% in the 2nd quarter. Assetmark Inc. now owns 3,562 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 2,804 shares during the last quarter. Huntington National Bank raised its position in Interactive Brokers Group by 51.8% in the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 176 shares during the last quarter. First Horizon Advisors Inc. raised its position in Interactive Brokers Group by 1,051.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 760 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 694 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its holdings in Interactive Brokers Group by 317.3% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 137,224 shares of the financial services provider’s stock worth $7,578,000 after buying an additional 104,342 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $66.70 on Friday. The company’s 50 day simple moving average is $72.42 and its 200 day simple moving average is $68.17. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $79.18. The firm has a market capitalization of $113.13 billion, a P/E ratio of 30.11, a P/E/G ratio of 1.87 and a beta of 1.23.

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

Interactive Brokers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, February 27th. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 14.48%.

Insider Activity at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 60,200 shares of Interactive Brokers Group stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $75.30, for a total transaction of $4,533,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 400,000 shares of company stock worth $30,725,122 over the last ninety days. 2.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Interactive Brokers Group Company Profile

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.