Panagora Asset Management Inc. Has $3.66 Million Stake in Interactive Brokers Group, Inc. $IBKR

Panagora Asset Management Inc. increased its holdings in Interactive Brokers Group, Inc. by 1,331.9% in Q2, owning 66,084 shares worth $3.66 million. Other institutional investors like Vanguard, Cantillon Capital, Greenwich Wealth Management, and JPMorgan Chase also significantly increased their stakes. Analysts have given IBKR a consensus rating of 'Moderate Buy' with an average price target of $72.08. Recent insider transactions include significant stock sales by CFO Paul Brody and Director Lawrence Harris.

Panagora Asset Management Inc. boosted its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 1,331.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,084 shares of the financial services provider's stock after buying an additional 61,469 shares during the period. Panagora Asset Management Inc.'s holdings in Interactive Brokers Group were worth $3,662,000 as of its most recent SEC filing.

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Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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. Cantillon Capital Management LLC grew its stake in shares of 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 worth $709,449,000 after purchasing an additional 9,509,805 shares during the period. Greenwich Wealth Management LLC lifted its stake 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 valued at $602,004,000 after buying an additional 8,159,175 shares during the period. JPMorgan Chase & Co. lifted its stake 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 valued at $562,328,000 after buying an additional 7,051,682 shares during the period. Finally, Norges Bank acquired a new position in shares of Interactive Brokers Group during the 2nd quarter worth about $284,703,000. 23.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IBKR shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Interactive Brokers Group in a research report on Tuesday, November 25th. The Goldman Sachs Group reiterated a "buy" rating and issued a $91.00 target price on shares of Interactive Brokers Group in a report on Friday, October 17th. Barclays set a $80.00 price target on shares of Interactive Brokers Group and gave the stock an "overweight" rating in a research report on Friday, October 17th. BMO Capital Markets boosted their price target on shares of Interactive Brokers Group from $82.00 to $84.00 and gave the company an "outperform" rating in a report on Friday, October 17th. Finally, Zacks Research upgraded shares of Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.08.

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Read Our Latest Research Report on IBKR

Insider Transactions at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 116,861 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the completion of the transaction, the chief financial officer owned 158,954 shares in the company, valued at $10,289,092.42. This trade represents a 42.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence E. Harris sold 22,000 shares of the firm's stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $67.63, for a total value of $1,487,860.00. Following the completion of the transaction, the director owned 231,704 shares of the company's stock, valued at approximately $15,670,141.52. This represents a 8.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,026,711 shares of company stock valued at $65,238,880. Company insiders own 2.97% of the company's stock.

Interactive Brokers Group Price Performance

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IBKR opened at $64.96 on Thursday. The company has a market capitalization of $110.18 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 1.94 and a beta of 1.26. The business's 50-day moving average price is $67.69 and its two-hundred day moving average price is $62.08. Interactive Brokers Group, Inc. has a 1 year low of $32.82 and a 1 year high of $73.35.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.08. Interactive Brokers Group had a return on equity of 5.03% and a net margin of 10.12%.The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the company earned $1.61 earnings per share. Interactive Brokers Group's quarterly revenue was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, December 1st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, December 1st. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio is presently 15.38%.

About Interactive Brokers Group

(Free Report)

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.

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