Envestnet Asset Management Inc. Cuts Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Envestnet Asset Management Inc. reduced its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 330,616 shares of the financial services provider’s stock after selling 11,852 shares during the period. Envestnet Asset Management Inc.’s holdings in Interactive Brokers Group were worth $58,410,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in Interactive Brokers Group during the 4th quarter worth approximately $25,000. SRH Advisors LLC purchased a new stake in shares of Interactive Brokers Group in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc increased its position in shares of Interactive Brokers Group by 66.4% in the 4th quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. increased its position in shares of Interactive Brokers Group by 90.7% in the 4th quarter. Blue Trust Inc. now owns 185 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 88 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Interactive Brokers Group in the 4th quarter valued at approximately $33,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IBKR. Keefe, Bruyette & Woods increased their price objective on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Monday, January 13th. UBS Group increased their price objective on shares of Interactive Brokers Group from $225.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup dropped their price objective on shares of Interactive Brokers Group from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. StockNews.com upgraded shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Piper Sandler lowered their target price on shares of Interactive Brokers Group from $210.00 to $192.00 and set an “overweight” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Interactive Brokers Group has a consensus rating of “Moderate Buy” and a consensus target price of $195.88.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $170.72 on Thursday. The stock has a market cap of $72.14 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.59 and a beta of 1.02. The firm has a fifty day moving average price of $192.31 and a 200 day moving average price of $180.22. Interactive Brokers Group, Inc. has a 1-year low of $103.69 and a 1-year high of $236.53.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.22. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. Interactive Brokers Group’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. Sell-side analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Friday, February 28th. Interactive Brokers Group’s dividend payout ratio is currently 14.16%.

Insider Buying and Selling

In other news, Director Jill Bright acquired 135 shares of the business’s stock in a transaction on Friday, January 31st. The stock was bought at an average price of $219.51 per share, for a total transaction of $29,633.85. Following the transaction, the director now owns 2,476 shares in the company, valued at $543,506.76. This represents a 5.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.99% of the stock is owned by company insiders.

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.