Kornitzer Capital Management Inc. KS Makes New $451,000 Investment in Interactive Brokers Group, Inc. $IBKR

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 6,725 shares of the financial services provider’s stock, valued at approximately $451,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Interactive Brokers Group during the fourth quarter valued at $453,146,000. Orbis Allan Gray Ltd boosted its holdings 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 purchasing an additional 6,246,715 shares during the last quarter. Bank of America Corp DE grew its position in shares of Interactive Brokers Group by 225.4% during the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after purchasing an additional 5,260,923 shares in the last quarter. State Street Corp grew its position in shares of Interactive Brokers Group by 23.2% during the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock valued at $1,283,221,000 after purchasing an additional 3,517,729 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Interactive Brokers Group by 44.1% during the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock valued at $533,026,000 after purchasing an additional 2,534,772 shares in the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on IBKR. Wolfe Research started coverage on Interactive Brokers Group in a research report on Monday, June 8th. They issued an “outperform” rating and a $101.00 target price on the stock. Jefferies Financial Group cut their price target on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a report on Monday, April 6th. Weiss Ratings cut Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods assumed coverage on Interactive Brokers Group in a research note on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 price objective on the stock. Finally, Barclays upped their price objective on Interactive Brokers Group from $93.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Interactive Brokers Group has an average rating of “Moderate Buy” and an average target price of $90.25.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $93.56 on Tuesday. The company has a market cap of $158.71 billion, a PE ratio of 40.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33. Interactive Brokers Group, Inc. has a 1 year low of $58.18 and a 1 year high of $97.84. The stock’s 50 day simple moving average is $88.70 and its two-hundred day simple moving average is $77.78.

Interactive Brokers Group (NASDAQ:IBKR) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 EPS. Equities research analysts expect that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

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

Insider Buying and Selling

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group 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 transaction, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by insiders.

Interactive Brokers Group 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.