Resona Asset Management Co. Ltd. Buys 6,661 Shares of Interactive Brokers Group, Inc. $IBKR

Resona Asset Management Co. Ltd. boosted its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,174 shares of the financial services provider’s stock after purchasing an additional 6,661 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Interactive Brokers Group were worth $9,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IBKR. Reflection Asset Management bought a new position in Interactive Brokers Group in the 4th quarter valued at about $26,000. IMA Advisory Services Inc. lifted its holdings in shares of Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 178 shares during the period. Tobam acquired a new stake in shares of Interactive Brokers Group during the 4th quarter worth approximately $30,000. Entrust Financial LLC acquired a new stake in shares of Interactive Brokers Group during the 4th quarter worth approximately $31,000. Finally, SHP Wealth Management bought a new position in Interactive Brokers Group in the fourth quarter valued at approximately $31,000. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Down 1.2%

Interactive Brokers Group stock traded down $1.19 during mid-day trading on Friday, reaching $94.09. The company had a trading volume of 2,399,513 shares, compared to its average volume of 4,361,864. The business has a fifty day simple moving average of $88.42 and a 200 day simple moving average of $77.50. The company has a market cap of $159.61 billion, a P/E ratio of 40.56, a P/E/G ratio of 2.60 and a beta of 1.33. Interactive Brokers Group, Inc. has a fifty-two week low of $58.18 and a fifty-two week high of $97.84.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business earned $1.94 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were given a dividend of $0.0875 per share. The ex-dividend date was Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio is 15.09%.

Insider Activity at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the sale, the director owned 173,482 shares of the company’s stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. China Renaissance initiated coverage on shares of Interactive Brokers Group in a research report on Tuesday, July 7th. They set a “hold” rating for the company. Jefferies Financial Group decreased their price target on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a report on Friday, May 1st. Wolfe Research initiated coverage on Interactive Brokers Group in a research note on Monday, June 8th. They issued an “outperform” rating and a $101.00 price objective on the stock. Finally, Piper Sandler lifted their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.25.

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.