Interactive Brokers Group (NASDAQ:IBKR) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) saw unusually-high trading volume on Wednesday after the company announced a dividend. Approximately 374,288 shares changed hands 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. Investors of record on Friday, May 31st will be given a dividend of $0.25 per share. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 31st. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 6.84%.

Wall Street Analysts Forecast Growth

IBKR has been the topic of a number of analyst reports. Barclays lifted their price objective on Interactive Brokers Group from $132.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group upgraded Interactive Brokers Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $88.00 to $102.00 in a research report on Tuesday, January 9th. Jefferies Financial Group lifted their target price on Interactive Brokers Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler lifted their target price on Interactive Brokers Group from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup lifted their target price on Interactive Brokers Group from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and eight have issued 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 $124.00.

Interactive Brokers Group Price Performance

The stock has a 50 day moving average price of $108.49 and a two-hundred day moving average price of $92.68. The firm has a market capitalization of $46.57 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.22 and a beta of 0.83.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, January 16th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, research analysts expect that Interactive Brokers Group, Inc. will post 6.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Vice Chairman Earl H. Nemser sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $104.86, for a total transaction of $524,300.00. Following the completion of the transaction, the insider now directly owns 113,770 shares of the company’s stock, valued at approximately $11,929,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Interactive Brokers Group news, insider Thomas Aj Frank sold 50,300 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $90.53, for a total transaction of $4,553,659.00. Following the completion of the sale, the insider now directly owns 445,352 shares of the company’s stock, valued at approximately $40,317,716.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Earl H. Nemser sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $104.86, for a total value of $524,300.00. Following the sale, the insider now directly owns 113,770 shares of the company’s stock, valued at $11,929,922.20. The disclosure for this sale can be found here. Insiders sold 428,883 shares of company stock valued at $40,395,135 in the last three months. 3.21% of the stock is owned by corporate insiders.

Institutional Trading of Interactive Brokers Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Michigan Retirement System raised its stake in Interactive Brokers Group by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 26,279 shares of the financial services provider’s stock valued at $2,936,000 after acquiring an additional 600 shares during the last quarter. Oliver Luxxe Assets LLC increased its position in Interactive Brokers Group by 1.8% during the 1st quarter. Oliver Luxxe Assets LLC now owns 7,047 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 126 shares during the period. 180 Wealth Advisors LLC acquired a new position in Interactive Brokers Group during the 1st quarter worth approximately $224,000. Thrive Wealth Management LLC acquired a new position in Interactive Brokers Group during the 1st quarter worth approximately $246,000. Finally, Wallace Advisory Group LLC increased its position in Interactive Brokers Group by 8.8% during the 1st quarter. Wallace Advisory Group LLC now owns 2,693 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 217 shares during the period. 23.80% of the stock is owned by hedge funds and other institutional investors.

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.