Polar Asset Management Partners Inc. Takes $3.13 Million Position in Interactive Brokers Group, Inc. $IBKR

Polar Asset Management Partners Inc. purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,472 shares of the financial services provider’s stock, valued at approximately $3,129,000.

A number of other large investors have also recently modified their holdings of IBKR. Vanguard Group Inc. grew its holdings in shares of Interactive Brokers Group by 303.9% during the second quarter. Vanguard Group Inc. now owns 41,810,406 shares of the financial services provider’s stock worth $2,316,715,000 after purchasing an additional 31,458,885 shares in the last quarter. State Street Corp raised its stake in Interactive Brokers Group by 301.3% in the second quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock valued at $838,410,000 after purchasing an additional 11,360,260 shares in the last quarter. Greenwich Wealth Management LLC lifted its position in Interactive Brokers Group by 301.6% during the second 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 during the last quarter. JPMorgan Chase & Co. lifted its position in Interactive Brokers Group by 227.7% during the second quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock valued at $562,328,000 after purchasing an additional 7,051,682 shares during the last quarter. Finally, Orbis Allan Gray Ltd grew its stake in 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 in the last quarter. Institutional investors own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

IBKR has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on shares of Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Zacks Research lowered shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Monday, December 29th. Finally, Barclays set a $83.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Interactive Brokers Group presently has a consensus rating of “Moderate Buy” and an average price target of $76.39.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 60,200 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $75.30, for a total transaction of $4,533,060.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 400,000 shares of company stock worth $30,725,122. Corporate insiders own 2.97% of the company’s stock.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $67.69 on Friday. The firm has a market cap of $114.81 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 1.92 and a beta of 1.23. Interactive Brokers Group, Inc. has a fifty-two week low of $32.82 and a fifty-two week high of $79.18. The firm has a 50 day moving average price of $72.39 and a 200-day moving average price of $68.46.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, February 27th. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is currently 14.48%.

Interactive Brokers Group Company 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.