Prospera Financial Services Inc Purchases New Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Posted by MarketBeat News on Aug 5th, 2022

Prospera Financial Services Inc purchased a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR – Get Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,380 shares of the financial services provider’s stock, valued at approximately $157,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in Interactive Brokers Group by 112.7% in the 4th quarter. First Horizon Advisors Inc. now owns 336 shares of the financial services provider’s stock valued at $26,000 after buying an additional 178 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Interactive Brokers Group by 692.5% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 420 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 367 shares during the period. Fifth Third Bancorp boosted its holdings in Interactive Brokers Group by 72.4% in the 4th quarter. Fifth Third Bancorp now owns 381 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 160 shares during the period. Westpac Banking Corp bought a new stake in Interactive Brokers Group in the 4th quarter valued at about $30,000. Finally, First Quadrant LLC CA bought a new stake in Interactive Brokers Group in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 20.49% of the company’s stock.

Interactive Brokers Group Price Performance

IBKR stock opened at $60.95 on Friday. The company has a 50 day simple moving average of $57.25 and a 200 day simple moving average of $61.90. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 0.69 and a beta of 0.79. Interactive Brokers Group, Inc. has a 1 year low of $52.18 and a 1 year high of $82.83.

Interactive Brokers Group (NASDAQ:IBKR – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). The company had revenue of $656.00 million for the quarter, compared to analyst estimates of $745.46 million. Interactive Brokers Group had a return on equity of 3.13% and a net margin of 9.64%. Interactive Brokers Group’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 3.77 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Thursday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Wednesday, August 31st. Interactive Brokers Group’s dividend payout ratio is 15.63%.

Insider Buying and Selling

In related news, Chairman Thomas Peterffy sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $54.99, for a total transaction of $1,099,800.00. Following the completion of the transaction, the chairman now directly owns 2,607,511 shares in the company, valued at approximately $143,387,029.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 540,000 shares of company stock worth $30,478,600 in the last three months. 5.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IBKR has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Interactive Brokers Group from $111.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Compass Point cut their price target on shares of Interactive Brokers Group to $85.00 in a report on Friday, June 3rd. The Goldman Sachs Group raised shares of Interactive Brokers Group from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a report on Tuesday, April 26th. Finally, StockNews.com raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th.

About Interactive Brokers Group

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Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company specializes in executing, clearing, and settling trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), metals, and cryptocurrencies. It also custodies and services accounts for hedge and mutual funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.