Atria Wealth Solutions Inc. Increases Stock Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Atria Wealth Solutions Inc. lifted its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 30.5% in the first quarter, HoldingsChannel reports. The firm owned 1,834 shares of the financial services provider’s stock after buying an additional 429 shares during the period. Atria Wealth Solutions Inc.’s holdings in Interactive Brokers Group were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IBKR. N.E.W. Advisory Services LLC purchased a new stake in shares of Interactive Brokers Group in the first quarter valued at about $26,000. City Holding Co. purchased a new stake in shares of Interactive Brokers Group in the first quarter valued at about $33,000. Nvwm LLC purchased a new stake in shares of Interactive Brokers Group in the first quarter valued at about $33,000. Bellwether Advisors LLC purchased a new stake in shares of Interactive Brokers Group in the fourth quarter valued at about $35,000. Finally, LGT Financial Advisors LLC grew its holdings in shares of Interactive Brokers Group by 596.7% in the fourth quarter. LGT Financial Advisors LLC now owns 209 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $63.31 on Friday. The stock has a market capitalization of $107.03 billion, a PE ratio of 32.55, a P/E/G ratio of 2.60 and a beta of 1.22. Interactive Brokers Group, Inc. has a 1 year low of $30.01 and a 1 year high of $68.07. The company’s 50-day simple moving average is $58.94 and its 200-day simple moving average is $51.62.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 earnings per share. On average, sell-side analysts predict that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio (DPR) is 16.49%.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the sale, the insider owned 461,500 shares of the company’s stock, valued at $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 233,972 shares of company stock valued at $15,746,449 over the last 90 days. 2.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IBKR has been the subject of several research analyst reports. The Goldman Sachs Group increased their target price on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Piper Sandler increased their target price on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Barclays increased their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Wall Street Zen raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Finally, Citigroup increased their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Interactive Brokers Group presently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Interactive Brokers Group Company 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.