Interactive Brokers Group, Inc. (NASDAQ:IBKR) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 59.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380,690 shares of the financial services provider’s stock after selling 556,503 shares during the quarter. Interactive Brokers Group accounts for approximately 2.1% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 12th largest holding. Coronation Fund Managers Ltd. owned about 0.09% of Interactive Brokers Group worth $46,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers boosted its position in Interactive Brokers Group by 0.6% during the 2nd quarter. Cetera Investment Advisers now owns 42,307 shares of the financial services provider’s stock worth $5,187,000 after purchasing an additional 259 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Interactive Brokers Group by 37.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,532 shares of the financial services provider’s stock valued at $188,000 after buying an additional 420 shares in the last quarter. Creative Planning raised its holdings in shares of Interactive Brokers Group by 12.2% during the 2nd quarter. Creative Planning now owns 7,768 shares of the financial services provider’s stock valued at $952,000 after buying an additional 845 shares during the period. Nemes Rush Group LLC lifted its position in Interactive Brokers Group by 181.8% during the 2nd quarter. Nemes Rush Group LLC now owns 1,037 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 669 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in Interactive Brokers Group by 6.1% during the 2nd quarter. SkyView Investment Advisors LLC now owns 36,511 shares of the financial services provider’s stock worth $4,476,000 after acquiring an additional 2,097 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IBKR has been the subject of several recent research reports. UBS Group increased their price objective on shares of Interactive Brokers Group from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Keefe, Bruyette & Woods lowered shares of 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 report on Thursday, July 11th. Barclays boosted their price objective on shares of Interactive Brokers Group from $145.00 to $147.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group upped their price objective on shares of Interactive Brokers Group from $138.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.44.

Interactive Brokers Group Stock Performance

IBKR opened at $138.27 on Wednesday. The company has a market capitalization of $58.22 billion, a P/E ratio of 23.64, a PEG ratio of 1.21 and a beta of 0.80. The company has a 50-day moving average of $124.35 and a 200-day moving average of $121.00. Interactive Brokers Group, Inc. has a 1-year low of $72.60 and a 1-year high of $139.98.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data 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 return on equity of 4.88% and a net margin of 7.88%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned $1.32 earnings per share. Interactive Brokers Group’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that Interactive Brokers Group, Inc. will post 6.81 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 30th. Interactive Brokers Group’s dividend payout ratio is currently 17.09%.

About Interactive Brokers Group

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.