Envestnet Asset Management Inc. Has $16.97 Million Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)
Envestnet Asset Management Inc. raised its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR – Get Rating) by 9.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 234,529 shares of the financial services provider’s stock after purchasing an additional 21,005 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Interactive Brokers Group worth $16,968,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in IBKR. Wipfli Financial Advisors LLC acquired a new position in Interactive Brokers Group during the 3rd quarter valued at about $28,000. Eagle Bay Advisors LLC purchased a new position in shares of Interactive Brokers Group in the 2nd quarter worth approximately $31,000. Fifth Third Bancorp boosted its stake in shares of Interactive Brokers Group by 40.2% in the 3rd quarter. Fifth Third Bancorp now owns 509 shares of the financial services provider’s stock worth $33,000 after buying an additional 146 shares during the last quarter. CWM LLC boosted its stake in shares of Interactive Brokers Group by 20.5% in the 3rd quarter. CWM LLC now owns 787 shares of the financial services provider’s stock worth $50,000 after buying an additional 134 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Interactive Brokers Group in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 97.84% of the company’s stock.
Wall Street Analyst Weigh In
IBKR has been the topic of a number of research analyst reports. Citigroup boosted their target price on Interactive Brokers Group from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. StockNews.com initiated coverage on shares of Interactive Brokers Group in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Bank of America lifted their price target on shares of Interactive Brokers Group from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Barclays lowered their price target on shares of Interactive Brokers Group from $102.00 to $99.00 and set an “overweight” rating on the stock in a report on Friday, April 14th. Finally, Piper Sandler lowered their price target on shares of Interactive Brokers Group from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Interactive Brokers Group currently has an average rating of “Moderate Buy” and an average target price of $107.33.
Interactive Brokers Group Price Performance
Shares of IBKR stock opened at $78.11 on Tuesday. The company’s fifty day simple moving average is $80.76 and its two-hundred day simple moving average is $79.11. Interactive Brokers Group, Inc. has a 1 year low of $52.18 and a 1 year high of $90.19. The stock has a market capitalization of $32.77 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.45 and a beta of 0.78.
Interactive Brokers Group (NASDAQ:IBKR – Get Rating) last issued its earnings results on Tuesday, April 18th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.05). Interactive Brokers Group had a net margin of 8.82% and a return on equity of 4.14%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $0.82 EPS. The company’s revenue was up 63.7% compared to the same quarter last year. Equities research analysts anticipate that Interactive Brokers Group, Inc. will post 5.61 EPS for the current year.
Interactive Brokers Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. Interactive Brokers Group’s payout ratio is 9.05%.
Insider Buying and Selling at Interactive Brokers Group
In other news, Director Philip Uhde sold 108,844 shares of the business’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $81.77, for a total transaction of $8,900,173.88. Following the completion of the transaction, the director now directly owns 2,270 shares in the company, valued at approximately $185,617.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.34% of the company’s stock.
Interactive Brokers Group Profile
Interactive Brokers Group, Inc operates as an investment holding company, which engages in broker or dealer and proprietary trading businesses. It operates through the following segments: Electronic Brokerage and Corporate. The Electronic Brokerage segment is a direct market access broker, which serves the customers of both traditional brokers and prime brokers.
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