Amalgamated Bank Cuts Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Amalgamated Bank cut its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,013 shares of the financial services provider’s stock after selling 3,542 shares during the period. Amalgamated Bank’s holdings in Interactive Brokers Group were worth $5,638,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Interactive Brokers Group by 3.3% in the third quarter. Vanguard Group Inc. now owns 9,566,830 shares of the financial services provider’s stock worth $828,105,000 after buying an additional 308,236 shares in the last quarter. Greenwich Wealth Management LLC raised its position in Interactive Brokers Group by 6.5% in the 3rd quarter. Greenwich Wealth Management LLC now owns 3,117,859 shares of the financial services provider’s stock worth $269,882,000 after purchasing an additional 189,555 shares during the period. FMR LLC lifted its stake in Interactive Brokers Group by 211.7% in the third quarter. FMR LLC now owns 1,773,533 shares of the financial services provider’s stock worth $153,517,000 after purchasing an additional 1,204,573 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Interactive Brokers Group by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 985,585 shares of the financial services provider’s stock valued at $85,312,000 after buying an additional 11,333 shares during the period. Finally, Bronte Capital Management Pty Ltd. grew its stake in shares of Interactive Brokers Group by 0.6% during the third quarter. Bronte Capital Management Pty Ltd. now owns 841,228 shares of the financial services provider’s stock valued at $72,817,000 after buying an additional 4,777 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on IBKR. Jefferies Financial Group raised their price target on Interactive Brokers Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Barclays lifted their target price on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Piper Sandler raised their price target on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Bank of America upped their price objective on shares of Interactive Brokers Group from $147.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Citigroup raised their target price on Interactive Brokers Group from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Interactive Brokers Group Stock Performance

IBKR stock opened at $122.01 on Tuesday. The company has a market capitalization of $51.37 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81. The business’s 50 day moving average price is $111.64 and its two-hundred day moving average price is $95.33. Interactive Brokers Group, Inc. has a fifty-two week low of $72.60 and a fifty-two week high of $122.04.

Interactive Brokers Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.10. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. Interactive Brokers Group’s dividend payout ratio is currently 6.84%.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $101.07, for a total value of $5,053,500.00. Following the sale, the insider now owns 158,770 shares in the company, valued at $16,046,883.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Vice Chairman Earl H. Nemser sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $104.86, for a total value of $524,300.00. Following the completion of the transaction, the insider now directly owns 113,770 shares in the company, valued at approximately $11,929,922.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Earl H. Nemser sold 50,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $101.07, for a total value of $5,053,500.00. Following the sale, the insider now owns 158,770 shares in the company, valued at $16,046,883.90. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock valued at $6,613,100 in the last three months. Company insiders own 3.21% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.