Ruane Cunniff & Goldfarb Inc. raised its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 13.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,713,298 shares of the financial services provider’s stock after buying an additional 204,865 shares during the quarter. Interactive Brokers Group comprises 0.7% of Ruane Cunniff & Goldfarb Inc.’s portfolio, making the stock its 29th largest holding. Ruane Cunniff & Goldfarb Inc. owned approximately 0.42% of Interactive Brokers Group worth $77,167,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of IBKR. The Manufacturers Life Insurance Company grew its holdings in Interactive Brokers Group by 27.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,966 shares of the financial services provider’s stock valued at $111,000 after buying an additional 647 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in Interactive Brokers Group by 71.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the financial services provider’s stock valued at $116,000 after buying an additional 1,295 shares in the last quarter. World Asset Management Inc purchased a new position in Interactive Brokers Group during the 3rd quarter valued at about $214,000. Everence Capital Management Inc. purchased a new position in Interactive Brokers Group during the 3rd quarter valued at about $224,000. Finally, Hartford Investment Management Co. purchased a new position in Interactive Brokers Group during the 2nd quarter valued at about $239,000. 15.80% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Interactive Brokers Group from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, September 19th. BidaskClub raised Interactive Brokers Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Finally, SunTrust Banks lifted their target price on Interactive Brokers Group to $48.00 and gave the company an “average” rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $41.67.
Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.05. Interactive Brokers Group had a return on equity of 1.35% and a net margin of 5.29%. The company had revenue of $426.00 million during the quarter, compared to analyst estimates of $382.85 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Interactive Brokers Group’s revenue was up 23.5% on a year-over-year basis. analysts anticipate that Interactive Brokers Group, Inc. will post 1.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, November 30th. Interactive Brokers Group’s payout ratio is 34.48%.
In other news, insider Thomas Aj Frank sold 20,218 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $41.99, for a total transaction of $848,953.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Denis Mendonca sold 1,156 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $49.50, for a total value of $57,222.00. The disclosure for this sale can be found here. Insiders have sold 1,095,957 shares of company stock valued at $52,044,877 in the last three months. 3.41% of the stock is owned by insiders.
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About Interactive Brokers Group
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.
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