Pinnacle Wealth Management LLC Sells 15,462 Shares of Interactive Brokers Group, Inc. $IBKR

Pinnacle Wealth Management LLC reduced its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 53.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,226 shares of the financial services provider’s stock after selling 15,462 shares during the period. Pinnacle Wealth Management LLC’s holdings in Interactive Brokers Group were worth $910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Interactive Brokers Group by 26.4% in the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider’s stock valued at $3,637,234,000 after purchasing an additional 11,048,679 shares during the period. State Street Corp increased its holdings in Interactive Brokers Group by 301.3% during the 2nd quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock worth $838,410,000 after purchasing an additional 11,360,260 shares during the period. Greenwich Wealth Management LLC raised its position in Interactive Brokers Group by 301.6% during the 2nd quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider’s stock valued at $602,004,000 after purchasing an additional 8,159,175 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Interactive Brokers Group by 227.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock worth $562,328,000 after buying an additional 7,051,682 shares during the period. Finally, Orbis Allan Gray Ltd lifted its holdings in shares of Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock worth $539,697,000 after buying an additional 6,246,715 shares during the period. Institutional investors own 23.80% of the company’s stock.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 145,000 shares of Interactive Brokers Group stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $77.85, for a total value of $11,288,250.00. Following the transaction, the insider directly owned 155,000 shares of the company’s stock, valued at approximately $12,066,750. The trade was a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 400,000 shares of company stock valued at $30,725,122 over the last 90 days. 2.97% of the stock is currently owned by insiders.

Interactive Brokers Group Price Performance

IBKR opened at $73.65 on Thursday. The firm has a market capitalization of $124.92 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The business’s 50-day moving average is $71.74 and its two-hundred day moving average is $67.89. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $79.18.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. Interactive Brokers Group had a net margin of 9.44% and a return on equity of 5.12%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the business earned $0.51 EPS. The company’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, February 27th. Interactive Brokers Group’s dividend payout ratio (DPR) is 14.48%.

Analysts Set New Price Targets

Several brokerages have recently commented on IBKR. Weiss Ratings restated a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Monday, December 29th. Zacks Research cut shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Barclays set a $83.00 target price on shares of Interactive Brokers Group and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Finally, BMO Capital Markets upped their price target on shares of Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $76.39.

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.