Janney Montgomery Scott LLC Raises Stock Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Janney Montgomery Scott LLC increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 14.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,135 shares of the financial services provider’s stock after purchasing an additional 5,665 shares during the period. Janney Montgomery Scott LLC’s holdings in Interactive Brokers Group were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Interactive Brokers Group by 1.3% during the first quarter. State Street Corp now owns 1,797,242 shares of the financial services provider’s stock worth $77,587,000 after purchasing an additional 22,660 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Interactive Brokers Group by 465.2% during the first quarter. Thrivent Financial for Lutherans now owns 1,373,505 shares of the financial services provider’s stock worth $59,294,000 after purchasing an additional 1,130,504 shares during the last quarter. Bronte Capital Management Pty Ltd. raised its holdings in shares of Interactive Brokers Group by 59.7% during the first quarter. Bronte Capital Management Pty Ltd. now owns 1,178,289 shares of the financial services provider’s stock worth $50,867,000 after purchasing an additional 440,299 shares during the last quarter. Kingstown Capital Management L.P. purchased a new position in shares of Interactive Brokers Group during the first quarter worth $43,170,000. Finally, Geode Capital Management LLC raised its holdings in shares of Interactive Brokers Group by 12.5% during the first quarter. Geode Capital Management LLC now owns 941,629 shares of the financial services provider’s stock worth $40,650,000 after purchasing an additional 104,669 shares during the last quarter. 16.55% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on IBKR shares. Credit Suisse Group started coverage on shares of Interactive Brokers Group in a report on Monday, June 22nd. They issued an “outperform” rating and a $53.00 price objective for the company. Wells Fargo & Co reaffirmed a “sell” rating and issued a $44.00 price objective (up previously from $34.00) on shares of Interactive Brokers Group in a report on Friday, July 10th. Piper Sandler lifted their price objective on shares of Interactive Brokers Group from $48.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Zacks Investment Research cut shares of Interactive Brokers Group from a “hold” rating to a “sell” rating and set a $49.00 price objective for the company. in a report on Tuesday, April 7th. Finally, Compass Point cut shares of Interactive Brokers Group from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a report on Wednesday, July 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $50.60.

IBKR stock opened at $49.60 on Friday. The stock has a market capitalization of $20.66 billion, a P/E ratio of 24.55 and a beta of 0.63. The firm has a 50-day simple moving average of $45.80 and a 200-day simple moving average of $45.49. Interactive Brokers Group, Inc. has a 52 week low of $33.70 and a 52 week high of $58.50.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.27. The business had revenue of $539.00 million during the quarter, compared to analysts’ expectations of $475.20 million. Interactive Brokers Group had a net margin of 6.36% and a return on equity of 2.23%. On average, equities research analysts expect that Interactive Brokers Group, Inc. will post 2.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. Interactive Brokers Group’s dividend payout ratio is currently 17.62%.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker in approximately 120 electronic exchanges and market centers worldwide. It specializes in executing and clearing trades in securities, futures, foreign exchange instruments, bonds, and mutual funds. The company custodies and services accounts for hedge and mutual funds, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.

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Institutional Ownership by Quarter for Interactive Brokers Group (NASDAQ:IBKR)

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