Van ECK Associates Corp Acquires 20,719 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Van ECK Associates Corp grew its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 149.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,629 shares of the financial services provider’s stock after acquiring an additional 20,719 shares during the quarter. Van ECK Associates Corp’s holdings in Interactive Brokers Group were worth $2,871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBKR. Commonwealth Equity Services LLC boosted its position in shares of Interactive Brokers Group by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,381 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 133 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Interactive Brokers Group during the 3rd quarter valued at approximately $257,000. Xponance Inc. boosted its position in shares of Interactive Brokers Group by 2.8% during the 3rd quarter. Xponance Inc. now owns 12,778 shares of the financial services provider’s stock valued at $1,106,000 after acquiring an additional 349 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Interactive Brokers Group by 6.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 70,458 shares of the financial services provider’s stock valued at $6,099,000 after acquiring an additional 3,986 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Interactive Brokers Group by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 985,585 shares of the financial services provider’s stock valued at $85,312,000 after acquiring an additional 11,333 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $101.07, for a total transaction of $5,053,500.00. Following the transaction, the insider now owns 158,770 shares in the company, valued at $16,046,883.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Vice Chairman Earl H. Nemser sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $101.07, for a total transaction of $5,053,500.00. Following the transaction, the insider now owns 158,770 shares in the company, valued at $16,046,883.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Earl H. Nemser sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $103.53, for a total value of $1,035,300.00. Following the transaction, the insider now owns 123,770 shares in the company, valued at approximately $12,813,908.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,000 shares of company stock worth $6,613,100. Company insiders own 3.21% of the company’s stock.

Interactive Brokers Group Stock Up 1.6 %

IBKR stock opened at $122.01 on Tuesday. The firm has a market cap of $51.37 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.22 and a beta of 0.81. Interactive Brokers Group, Inc. has a twelve month low of $72.60 and a twelve month high of $122.04. The business’s fifty day simple moving average is $111.64 and its two-hundred day simple moving average is $95.33.

Interactive Brokers Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 31st. This represents a $1.00 annualized dividend and a dividend yield of 0.82%. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.10. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 6.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler increased 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. The Goldman Sachs Group upgraded Interactive Brokers Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $88.00 to $102.00 in a research report on Tuesday, January 9th. Jefferies Financial Group raised their price target on Interactive Brokers Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Barclays raised their price target on Interactive Brokers Group from $132.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, Bank of America raised their price target on Interactive Brokers Group from $147.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and an average price target of $124.00.

Interactive Brokers Group Profile

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.