Element Capital Management LLC Takes Position in Interactive Brokers Group, Inc. $IBKR

Element Capital Management LLC acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 4th quarter, Holdings Channel reports. The fund acquired 19,954 shares of the financial services provider’s stock, valued at approximately $1,283,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Interactive Brokers Group by 26.4% in the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider’s stock worth $3,637,234,000 after acquiring an additional 11,048,679 shares during the last quarter. Norges Bank acquired a new position in shares of Interactive Brokers Group in the 4th quarter valued at $453,146,000. Orbis Allan Gray Ltd grew its stake in shares of Interactive Brokers Group by 178.8% during the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after buying an additional 6,246,715 shares during the period. Bank of America Corp DE increased its holdings in shares of Interactive Brokers Group by 225.4% during the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock worth $420,834,000 after buying an additional 5,260,923 shares during the last quarter. Finally, State Street Corp raised its position in shares of Interactive Brokers Group by 23.2% in the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock worth $1,283,221,000 after buying an additional 3,517,729 shares during the period. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on IBKR. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Zacks Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. Jefferies Financial Group dropped their target price 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. Keefe, Bruyette & Woods assumed coverage on Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price for the company. Finally, Piper Sandler raised their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average price target of $85.22.

Insiders Place Their Bets

In other news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the sale, the director owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $95.09 on Thursday. The company’s fifty day moving average price is $82.75 and its two-hundred day moving average price is $74.17. The firm has a market capitalization of $161.31 billion, a P/E ratio of 40.99, a P/E/G ratio of 2.57 and a beta of 1.32. Interactive Brokers Group, Inc. has a 12 month low of $49.30 and a 12 month high of $96.75.

Interactive Brokers Group (NASDAQ:IBKR) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the firm earned $1.94 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, June 1st were issued a dividend of $0.0875 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio (DPR) is 15.09%.

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.