Progeny 3 Inc. Buys Shares of 127,000 Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Progeny 3 Inc. purchased a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 127,000 shares of the financial services provider’s stock, valued at approximately $17,699,000. Interactive Brokers Group comprises 1.5% of Progeny 3 Inc.’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of IBKR. Millennium Management LLC increased its position in Interactive Brokers Group by 1,292.1% during the second quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider’s stock worth $132,655,000 after buying an additional 1,004,289 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Interactive Brokers Group in the 3rd quarter valued at approximately $83,630,000. Marshall Wace LLP lifted its holdings in Interactive Brokers Group by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 2,507,059 shares of the financial services provider’s stock worth $307,365,000 after purchasing an additional 481,826 shares during the last quarter. Waverton Investment Management Ltd bought a new stake in Interactive Brokers Group during the third quarter worth approximately $26,946,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Interactive Brokers Group by 262.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 258,353 shares of the financial services provider’s stock worth $36,004,000 after buying an additional 187,010 shares during the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $191.09 on Friday. The company’s fifty day moving average price is $158.93 and its two-hundred day moving average price is $135.41. The firm has a market capitalization of $80.74 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.50 and a beta of 0.79. Interactive Brokers Group, Inc. has a 52-week low of $76.89 and a 52-week high of $193.42.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). Interactive Brokers Group had a net margin of 7.89% and a return on equity of 4.83%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Analysts predict that Interactive Brokers Group, Inc. will post 6.82 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. Interactive Brokers Group’s payout ratio is presently 15.27%.

Analysts Set New Price Targets

A number of research analysts have weighed in on IBKR shares. Piper Sandler reissued an “overweight” rating and set a $163.00 target price on shares of Interactive Brokers Group in a research report on Wednesday, October 16th. UBS Group raised their target price on Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays dropped their price target on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group raised their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.