Interactive Brokers Group (NASDAQ:IBKR) Sees Unusually-High Trading Volume After Dividend Announcement

Interactive Brokers Group, Inc. (NASDAQ:IBKR) saw an uptick in trading volume on Wednesday after the company announced a dividend. 374,288 shares traded hands during mid-day trading, a decline of 68% from the previous session’s volume of 1,164,074 shares.The stock last traded at $111.91 and had previously closed at $107.39.

The newly announced dividend which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.25 dividend. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.10. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, May 31st. Interactive Brokers Group’s dividend payout ratio is 6.84%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBKR. Barclays upped their price target on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup upped their price target on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Piper Sandler upped their price target on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. UBS Group reduced their price objective on shares of Interactive Brokers Group from $108.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. Finally, Jefferies Financial Group upped their price objective on shares of Interactive Brokers Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Interactive Brokers Group Stock Up 1.3 %

The firm has a market capitalization of $46.57 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. The company’s 50 day moving average is $108.49 and its 200-day moving average is $92.68.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Interactive Brokers Group had a return on equity of 4.72% and a net margin of 7.62%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. On average, analysts predict that Interactive Brokers Group, Inc. will post 6.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Interactive Brokers Group news, insider Thomas Aj Frank sold 50,300 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $90.53, for a total transaction of $4,553,659.00. Following the sale, the insider now owns 445,352 shares of the company’s stock, valued at approximately $40,317,716.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Vice Chairman Earl H. Nemser sold 74,218 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $96.29, for a total value of $7,146,451.22. Following the completion of the transaction, the insider now directly owns 234,552 shares in the company, valued at $22,585,012.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Aj Frank sold 50,300 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $90.53, for a total transaction of $4,553,659.00. Following the sale, the insider now owns 445,352 shares of the company’s stock, valued at $40,317,716.56. The disclosure for this sale can be found here. Insiders have sold a total of 428,883 shares of company stock valued at $40,395,135 over the last ninety days. 3.21% of the stock is owned by corporate insiders.

Institutional Trading of Interactive Brokers Group

Several institutional investors have recently added to or reduced their stakes in IBKR. Contravisory Investment Management Inc. purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $25,000. Rise Advisors LLC purchased a new stake in shares of Interactive Brokers Group during the first quarter worth about $30,000. Eagle Bay Advisors LLC purchased a new stake in shares of Interactive Brokers Group during the second quarter worth about $31,000. Rakuten Securities Inc. purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $34,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Interactive Brokers Group during the third quarter worth about $40,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

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.