Interactive Brokers Group (NASDAQ:IBKR) Sees Strong Trading Volume After Dividend Announcement

Interactive Brokers Group, Inc. (NASDAQ:IBKR) shares saw unusually-strong trading volume on Wednesday after the company announced a dividend. Approximately 374,288 shares were traded during trading, a decline of 68% from the previous session’s volume of 1,164,074 shares.The stock last traded at $111.91 and had previously closed at $107.39.

The newly announced dividend which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 31st. Interactive Brokers Group’s dividend payout ratio (DPR) is 6.84%.

Analysts Set New Price Targets

A number of research analysts have weighed in on IBKR shares. Barclays raised their price objective on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group increased their target price on shares of Interactive Brokers Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup increased their target price on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 11th. The Goldman Sachs Group upgraded shares of Interactive Brokers Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $88.00 to $102.00 in a report on Tuesday, January 9th. Finally, Bank of America increased their target price on shares of Interactive Brokers Group from $147.00 to $152.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.00.

Interactive Brokers Group Price Performance

The business’s fifty day moving average is $108.49 and its 200-day moving average is $92.68. The firm has a market cap of $46.57 billion, a PE ratio of 18.91, a P/E/G ratio of 1.22 and a beta of 0.83.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Interactive Brokers Group had a return on equity of 4.72% and a net margin of 7.62%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted $1.30 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Analysts forecast that Interactive Brokers Group, Inc. will post 6.46 EPS for the current year.

Insider Buying and Selling

In related news, Vice Chairman Earl H. Nemser sold 74,218 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the completion of the sale, the insider now owns 234,552 shares in the company, valued at $22,585,012.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Vice Chairman Earl H. Nemser sold 5,000 shares of Interactive Brokers Group stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $104.86, for a total value of $524,300.00. Following the completion of the transaction, the insider now owns 113,770 shares in the company, valued at $11,929,922.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Earl H. Nemser sold 74,218 shares of Interactive Brokers Group stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the completion of the transaction, the insider now owns 234,552 shares of the company’s stock, valued at approximately $22,585,012.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,883 shares of company stock worth $40,395,135. Insiders own 3.21% of the company’s stock.

Hedge Funds Weigh In On Interactive Brokers Group

Several large investors have recently modified their holdings of IBKR. Contravisory Investment Management Inc. purchased a new position in shares of Interactive Brokers Group in the fourth quarter worth about $25,000. Rise Advisors LLC bought a new position in shares of Interactive Brokers Group in the first quarter valued at approximately $30,000. Eagle Bay Advisors LLC bought a new position in shares of Interactive Brokers Group in the second quarter valued at approximately $31,000. Rakuten Securities Inc. bought a new position in shares of Interactive Brokers Group in the fourth quarter valued at approximately $34,000. Finally, Headlands Technologies LLC bought a new position in shares of Interactive Brokers Group in the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

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.