Gabelli Funds LLC Sells 1,400 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Gabelli Funds LLC cut its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,749 shares of the financial services provider’s stock after selling 1,400 shares during the period. Gabelli Funds LLC’s holdings in Interactive Brokers Group were worth $16,030,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IBKR. Rise Advisors LLC acquired a new stake in Interactive Brokers Group in the 1st quarter valued at $30,000. Tortoise Investment Management LLC grew its holdings in shares of Interactive Brokers Group by 76.6% in the 2nd quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 111 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of Interactive Brokers Group in the second quarter valued at about $32,000. Principal Securities Inc. acquired a new stake in shares of Interactive Brokers Group in the fourth quarter valued at about $40,000. Finally, Kapitalo Investimentos Ltda raised its holdings in Interactive Brokers Group by 278.0% during the fourth quarter. Kapitalo Investimentos Ltda now owns 480 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 353 shares in the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

NASDAQ:IBKR opened at $135.19 on Tuesday. The firm’s fifty day moving average price is $122.50 and its two-hundred day moving average price is $119.77. The company has a market cap of $56.93 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.10 and a beta of 0.80. Interactive Brokers Group, Inc. has a one year low of $72.60 and a one year high of $135.59.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.02. Interactive Brokers Group had a net margin of 7.88% and a return on equity of 4.88%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm earned $1.32 EPS. The business’s revenue was up 21.2% on a year-over-year basis. As a group, equities research analysts expect that Interactive Brokers Group, Inc. will post 6.81 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 30th. This represents a $1.00 annualized dividend and a yield of 0.74%. Interactive Brokers Group’s payout ratio is currently 17.09%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IBKR. Keefe, Bruyette & Woods downgraded Interactive Brokers Group from an “outperform” rating to a “market perform” rating and raised their price target for the company from $128.00 to $135.00 in a research note on Thursday, July 11th. Barclays raised their target price on shares of Interactive Brokers Group from $145.00 to $147.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. UBS Group upped their price target on shares of Interactive Brokers Group from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Interactive Brokers Group from $138.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.44.

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.