Connor Clark & Lunn Investment Management Ltd. Cuts Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,273 shares of the financial services provider’s stock after selling 5,745 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Interactive Brokers Group were worth $7,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new position in Interactive Brokers Group in the fourth quarter valued at $25,000. SRH Advisors LLC purchased a new position in shares of Interactive Brokers Group in the 4th quarter worth about $28,000. Versant Capital Management Inc boosted its holdings in shares of Interactive Brokers Group by 66.4% in the 4th quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Blue Trust Inc. increased its position in shares of Interactive Brokers Group by 90.7% during the 4th quarter. Blue Trust Inc. now owns 185 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 88 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of Interactive Brokers Group during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Up 4.4 %

IBKR stock opened at $168.11 on Friday. The stock has a market capitalization of $71.04 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.59 and a beta of 0.99. The firm’s 50-day moving average price is $204.67 and its two-hundred day moving average price is $175.08. Interactive Brokers Group, Inc. has a 12-month low of $103.69 and a 12-month high of $236.53.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.22. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. Interactive Brokers Group’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.52 EPS. Equities analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, February 28th. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 14.16%.

Insider Buying and Selling at Interactive Brokers Group

In related news, Director Jill Bright bought 135 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $219.51 per share, with a total value of $29,633.85. Following the purchase, the director now owns 2,476 shares of the company’s stock, valued at approximately $543,506.76. This trade represents a 5.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Interactive Brokers Group in a research note on Wednesday, January 22nd. Citigroup upped their price objective on shares of Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays lifted their target price on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price objective on Interactive Brokers Group from $171.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.13.

Interactive Brokers Group 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.