Pinnacle Wealth Management LLC Decreases Stock Position in Interactive Brokers Group, Inc. $IBKR

Pinnacle Wealth Management LLC lessened its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 53.9% in the 3rd quarter, Holdings Channel.com reports. The fund 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 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Citizens Business Bank acquired a new stake in Interactive Brokers Group in the 3rd quarter worth approximately $274,000. TD Asset Management Inc raised its holdings in shares of Interactive Brokers Group by 2,098.6% in the third quarter. TD Asset Management Inc now owns 2,300,711 shares of the financial services provider’s stock worth $158,312,000 after buying an additional 2,196,067 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Interactive Brokers Group during the third quarter worth $826,000. Sound View Wealth Advisors Group LLC grew its holdings in shares of Interactive Brokers Group by 12.3% during the third quarter. Sound View Wealth Advisors Group LLC now owns 27,506 shares of the financial services provider’s stock valued at $1,893,000 after buying an additional 3,003 shares during the last quarter. Finally, Marks Group Wealth Management Inc purchased a new stake in shares of Interactive Brokers Group during the third quarter valued at $3,050,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Trading Up 2.4%

Interactive Brokers Group stock opened at $73.65 on Thursday. Interactive Brokers Group, Inc. has a 12 month low of $32.82 and a 12 month high of $79.18. The stock’s 50 day simple moving average is $71.74 and its two-hundred day simple moving average is $67.89. The firm has a market cap of $124.92 billion, a PE ratio of 33.25, a P/E/G ratio of 2.01 and a beta of 1.24.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $0.65 earnings per share 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 firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 18.5% on a year-over-year basis. On average, equities research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

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

Insider Activity at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 60,200 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 400,000 shares of company stock worth $30,725,122. 2.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on IBKR shares. Barclays set a $83.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Interactive Brokers Group in a research report on Monday, December 29th. 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. Finally, Zacks Research cut shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and a consensus price target of $76.39.

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.