PNC Financial Services Group Inc. Cuts Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

PNC Financial Services Group Inc. cut its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,839 shares of the financial services provider’s stock after selling 315 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Interactive Brokers Group were worth $1,232,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of IBKR. O Shaughnessy Asset Management LLC purchased a new position in Interactive Brokers Group in the 1st quarter worth approximately $356,000. Advisors Asset Management Inc. lifted its position in shares of Interactive Brokers Group by 607.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,720 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,477 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Interactive Brokers Group by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,280 shares of the financial services provider’s stock valued at $5,952,000 after purchasing an additional 3,326 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Interactive Brokers Group by 9.9% during the first quarter. Janus Henderson Group PLC now owns 108,977 shares of the financial services provider’s stock valued at $12,173,000 after buying an additional 9,858 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in Interactive Brokers Group by 25.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 5,612 shares of the financial services provider’s stock worth $627,000 after buying an additional 1,151 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Down 0.8 %

NASDAQ IBKR opened at $191.31 on Thursday. Interactive Brokers Group, Inc. has a 52 week low of $72.60 and a 52 week high of $193.42. The company has a market capitalization of $80.83 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 1.50 and a beta of 0.79. The stock’s 50-day moving average price is $156.53 and its 200-day moving average price is $134.62.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business posted $1.55 EPS. Research analysts anticipate that Interactive Brokers Group, Inc. will post 6.82 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, November 29th. Interactive Brokers Group’s dividend payout ratio (DPR) is 15.27%.

Wall Street Analysts Forecast Growth

IBKR has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $163.00 price objective on shares of Interactive Brokers Group in a research report on Wednesday, October 16th. Jefferies Financial Group upped their price target on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group lifted their target price on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays cut their price target on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

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.