Gabelli Funds LLC Decreases Stake in Interactive Brokers Group, Inc. $IBKR

Gabelli Funds LLC reduced its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 4.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 365,040 shares of the financial services provider’s stock after selling 15,691 shares during the quarter. Gabelli Funds LLC’s holdings in Interactive Brokers Group were worth $23,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBKR. Murphy & Mullick Capital Management Corp purchased a new position in shares of Interactive Brokers Group in the 3rd quarter valued at approximately $27,000. Blue Trust Inc. raised its position in shares of Interactive Brokers Group by 236.0% in the 4th quarter. Blue Trust Inc. now owns 672 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 472 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Interactive Brokers Group in the 2nd quarter valued at approximately $44,000. Darwin Wealth Management LLC purchased a new position in shares of Interactive Brokers Group in the 2nd quarter valued at approximately $45,000. Finally, Elyxium Wealth LLC purchased a new position in shares of Interactive Brokers Group in the 4th quarter valued at approximately $50,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on IBKR. BMO Capital Markets increased their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group decreased their price objective on shares of Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research report on Friday, May 1st. Keefe, Bruyette & Woods started coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price target for the company. Finally, Piper Sandler raised their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and a consensus price target of $83.25.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director owned 173,482 shares of the company’s stock, valued at $13,345,970.26. This trade represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by insiders.

Interactive Brokers Group Trading Down 1.0%

IBKR opened at $86.12 on Tuesday. Interactive Brokers Group, Inc. has a 12-month low of $49.15 and a 12-month high of $88.44. The firm has a market capitalization of $146.09 billion, a PE ratio of 37.12, a P/E/G ratio of 2.40 and a beta of 1.32. The firm has a 50 day moving average of $74.25 and a two-hundred day moving average of $71.18.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the firm posted $1.94 EPS. Interactive Brokers Group’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, analysts predict that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be given a dividend of $0.0875 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is 15.09%.

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.