Chase Investment Counsel Corp Sells 6,000 Shares of Interactive Brokers Group, Inc. $IBKR

Chase Investment Counsel Corp lessened its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 16.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the financial services provider’s stock after selling 6,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in Interactive Brokers Group were worth $2,012,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Reflection Asset Management bought a new stake in Interactive Brokers Group in the 4th quarter worth approximately $26,000. IMA Advisory Services Inc. raised its stake in Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after buying an additional 178 shares during the last quarter. Tobam bought a new position in shares of Interactive Brokers Group during the 4th quarter valued at $30,000. Entrust Financial LLC bought a new position in shares of Interactive Brokers Group during the 4th quarter valued at $31,000. Finally, SHP Wealth Management purchased a new position in shares of Interactive Brokers Group in the 4th quarter worth $31,000. 23.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IBKR has been the subject of several research analyst reports. China Renaissance initiated coverage on Interactive Brokers Group in a report on Tuesday, July 7th. They issued a “hold” rating for the company. Piper Sandler set a $105.00 target price on Interactive Brokers Group and gave the company an “overweight” rating in a report on Wednesday, July 15th. Bank of America raised their target price on Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Wolfe Research started coverage on Interactive Brokers Group in a research note on Monday, June 8th. They set an “outperform” rating and a $101.00 price target for the company. Finally, Barclays upped their price target on shares of Interactive Brokers Group from $93.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.89.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was 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 in the company, valued at $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $94.42 on Wednesday. Interactive Brokers Group, Inc. has a 1 year low of $58.95 and a 1 year high of $97.84. The firm has a fifty day moving average price of $89.76 and a 200-day moving average price of $78.97. The company has a market cap of $160.17 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 2.10 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm earned $0.51 EPS. Equities research analysts expect that Interactive Brokers Group, Inc. will post 2.55 EPS for the current year.

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.