State of Michigan Retirement System Reduces Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

State of Michigan Retirement System trimmed its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,779 shares of the financial services provider’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in Interactive Brokers Group were worth $3,161,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in IBKR. Norges Bank purchased a new stake in Interactive Brokers Group in the 4th quarter valued at $97,476,000. Goldman Sachs Group Inc. grew its holdings in Interactive Brokers Group by 122.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 951,211 shares of the financial services provider’s stock valued at $78,855,000 after buying an additional 524,503 shares in the last quarter. Bares Capital Management Inc. grew its holdings in Interactive Brokers Group by 10.4% in the 1st quarter. Bares Capital Management Inc. now owns 2,810,131 shares of the financial services provider’s stock valued at $313,920,000 after buying an additional 264,543 shares in the last quarter. Woodson Capital Management LP purchased a new stake in Interactive Brokers Group in the 4th quarter valued at $16,000,000. Finally, Scout Investments Inc. purchased a new stake in Interactive Brokers Group in the 1st quarter valued at $18,335,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Interactive Brokers Group Price Performance

IBKR stock opened at $127.12 on Wednesday. The firm has a market capitalization of $53.53 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.07 and a beta of 0.81. The business’s 50-day moving average is $120.85 and its two-hundred day moving average is $116.91. Interactive Brokers Group, Inc. has a 1 year low of $72.60 and a 1 year high of $129.19.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. Interactive Brokers Group had a return on equity of 4.88% and a net margin of 7.88%. Interactive Brokers Group’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.32 EPS. On average, analysts expect that Interactive Brokers Group, Inc. will post 6.76 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, August 30th. Interactive Brokers Group’s dividend payout ratio is currently 17.09%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group upped their target price on Interactive Brokers Group from $138.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods lowered Interactive Brokers Group from an “outperform” rating to a “market perform” rating and upped their price target for the company from $128.00 to $135.00 in a research note on Thursday, July 11th. UBS Group upped their price target on Interactive Brokers Group from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Barclays upped their price target on Interactive Brokers Group from $145.00 to $147.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.33.

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.