Highland Capital Management LLC Invests $1.69 Million in Interactive Brokers Group, Inc. $IBKR

Highland Capital Management LLC acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 24,602 shares of the financial services provider’s stock, valued at approximately $1,693,000.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Interactive Brokers Group by 303.9% during the 2nd quarter. Vanguard Group Inc. now owns 41,810,406 shares of the financial services provider’s stock valued at $2,316,715,000 after acquiring an additional 31,458,885 shares during the last quarter. State Street Corp raised its holdings in shares of Interactive Brokers Group by 301.3% during the second quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock valued at $838,410,000 after purchasing an additional 11,360,260 shares during the last quarter. Cantillon Capital Management LLC lifted its position in Interactive Brokers Group by 288.7% during the second quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider’s stock valued at $709,449,000 after purchasing an additional 9,509,805 shares during the period. Greenwich Wealth Management LLC boosted its holdings in Interactive Brokers Group by 301.6% in the second quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider’s stock worth $602,004,000 after purchasing an additional 8,159,175 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Interactive Brokers Group by 227.7% in the second quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock worth $562,328,000 after purchasing an additional 7,051,682 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Insider Buying and Selling

In other news, Director Jill Bright acquired 400 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The shares were purchased at an average cost of $65.95 per share, for a total transaction of $26,380.00. Following the transaction, the director directly owned 10,304 shares of the company’s stock, valued at approximately $679,548.80. This trade represents a 4.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence E. Harris sold 10,645 shares of Interactive Brokers Group stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $69.00, for a total transaction of $734,505.00. Following the transaction, the director owned 198,704 shares in the company, valued at approximately $13,710,576. This trade represents a 5.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 55,000 shares of company stock worth $3,767,363. 2.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

IBKR has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Interactive Brokers Group in a research note on Monday. BMO Capital Markets lifted their price objective on Interactive Brokers Group from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $91.00 price objective on shares of Interactive Brokers Group in a research report on Friday, October 17th. Barclays reissued an “overweight” rating and issued a $81.00 target price (up previously from $80.00) on shares of Interactive Brokers Group in a report on Friday, December 12th. Finally, Piper Sandler set a $80.00 price target on Interactive Brokers Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group presently has an average rating of “Moderate Buy” and an average price target of $72.19.

Interactive Brokers Group Price Performance

NASDAQ:IBKR opened at $66.16 on Friday. Interactive Brokers Group, Inc. has a one year low of $32.82 and a one year high of $73.35. The business has a fifty day moving average price of $66.25 and a 200-day moving average price of $63.53. The firm has a market capitalization of $112.22 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.08. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.47 billion. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.Interactive Brokers Group’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 earnings per share. On average, equities research analysts expect that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, December 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 1st. Interactive Brokers Group’s dividend payout ratio is currently 15.38%.

About Interactive Brokers Group

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.