Assenagon Asset Management S.A. Has $1.50 Million Stock Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Posted by Defense World Staff on Oct 16th, 2023

Assenagon Asset Management S.A. cut its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 97.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,041 shares of the financial services provider’s stock after selling 601,840 shares during the period. Assenagon Asset Management S.A.’s holdings in Interactive Brokers Group were worth $1,499,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of IBKR. Guggenheim Capital LLC boosted its holdings in shares of Interactive Brokers Group by 43.7% during the first quarter. Guggenheim Capital LLC now owns 7,121 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 2,165 shares during the period. Chiron Investment Management LLC acquired a new position in Interactive Brokers Group in the 1st quarter valued at $3,068,000. Thrive Wealth Management LLC acquired a new position in Interactive Brokers Group in the 1st quarter valued at $227,000. Raleigh Capital Management Inc. increased its position in Interactive Brokers Group by 25.4% during the 1st quarter. Raleigh Capital Management Inc. now owns 909 shares of the financial services provider’s stock worth $75,000 after buying an additional 184 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Interactive Brokers Group by 41.4% during the first quarter. Envestnet Asset Management Inc. now owns 331,635 shares of the financial services provider’s stock worth $27,380,000 after buying an additional 97,106 shares in the last quarter. Institutional investors own 21.56% of the company’s stock.

Interactive Brokers Group Trading Down 0.4 %

Shares of Interactive Brokers Group stock opened at $85.09 on Monday. The firm’s 50 day moving average is $90.29 and its 200 day moving average is $84.12. The firm has a market capitalization of $35.82 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.79. Interactive Brokers Group, Inc. has a 1 year low of $68.03 and a 1 year high of $95.59.

Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.08). Interactive Brokers Group had a return on equity of 4.41% and a net margin of 8.14%. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.84 EPS. The business’s quarterly revenue was up 52.4% compared to the same quarter last year. As a group, research analysts anticipate that Interactive Brokers Group, Inc. will post 5.66 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Friday, September 1st were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.40 annualized dividend and a yield of 0.47%. Interactive Brokers Group’s dividend payout ratio is presently 8.16%.

Insider Activity

In other news, CFO Paul Jonathan Brody sold 11,747 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $94.64, for a total value of $1,111,736.08. Following the completion of the transaction, the chief financial officer now owns 488,253 shares of the company’s stock, valued at $46,208,263.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Paul Jonathan Brody sold 11,747 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $94.64, for a total value of $1,111,736.08. Following the sale, the chief financial officer now owns 488,253 shares of the company’s stock, valued at $46,208,263.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Aj Frank sold 12,827 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $87.44, for a total value of $1,121,592.88. Following the transaction, the insider now directly owns 680,876 shares of the company’s stock, valued at $59,535,797.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 421,363 shares of company stock valued at $37,694,898. 3.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IBKR. The Goldman Sachs Group began coverage on shares of Interactive Brokers Group in a research report on Tuesday, September 19th. They set a “neutral” rating and a $97.00 price target on the stock. Barclays raised their target price on shares of Interactive Brokers Group from $106.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. UBS Group initiated coverage on Interactive Brokers Group in a research report on Tuesday, October 3rd. They set a “buy” rating and a $113.00 target price for the company. StockNews.com initiated coverage on Interactive Brokers Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Piper Sandler increased their price objective on shares of Interactive Brokers Group from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, October 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.14.

View Our Latest Research Report on IBKR

About Interactive Brokers Group

(Free Report)

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company specializes in routing, executing, and processing 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.