OP Asset Management Ltd Purchases Shares of 45,930 Interactive Brokers Group, Inc. $IBKR

OP Asset Management Ltd acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 45,930 shares of the financial services provider’s stock, valued at approximately $3,081,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBKR. AQR Capital Management LLC increased its position in shares of Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 2,713 shares in the last quarter. Brown Advisory Inc. boosted its position in Interactive Brokers Group by 307.9% in the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock valued at $803,000 after buying an additional 10,943 shares in the last quarter. Cerity Partners LLC bought a new stake in Interactive Brokers Group during the second quarter worth about $318,000. Daiwa Securities Group Inc. increased its holdings in shares of Interactive Brokers Group by 291.2% during the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after buying an additional 26,500 shares in the last quarter. Finally, AXA S.A. raised its stake in shares of Interactive Brokers Group by 128.1% in the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock valued at $710,000 after acquiring an additional 7,197 shares during the last quarter. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Down 2.5%

Shares of IBKR stock opened at $89.89 on Friday. The firm has a market cap of $152.48 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 2.48 and a beta of 1.32. Interactive Brokers Group, Inc. has a 12 month low of $52.96 and a 12 month high of $97.84. The stock has a 50-day moving average price of $85.62 and a 200 day moving average price of $75.54.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the company posted $1.94 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. Sell-side analysts predict that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently announced 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 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 dividend payout ratio (DPR) is presently 15.09%.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

IBKR has been the topic of a number of recent analyst reports. Jefferies Financial Group reduced their price objective on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Keefe, Bruyette & Woods initiated 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 on the stock. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a report on Friday, May 1st. Barclays raised their price objective on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.22.

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.