Greenwich Wealth Management LLC Trims Stock Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Greenwich Wealth Management LLC trimmed its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 0.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,979,223 shares of the financial services provider’s stock after selling 149 shares during the quarter. Interactive Brokers Group makes up approximately 27.8% of Greenwich Wealth Management LLC’s holdings, making the stock its largest position. Greenwich Wealth Management LLC’s holdings in Interactive Brokers Group were worth $415,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Financial Mangement LLC boosted its position in Interactive Brokers Group by 5.4% during the 3rd quarter. Boston Financial Mangement LLC now owns 1,955 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 100 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Interactive Brokers Group by 5.6% during the third quarter. First Citizens Bank & Trust Co. now owns 2,007 shares of the financial services provider’s stock worth $280,000 after buying an additional 107 shares during the period. Tortoise Investment Management LLC grew its holdings in Interactive Brokers Group by 76.6% in the 2nd quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Signaturefd LLC grew its stake in shares of Interactive Brokers Group by 9.5% in the third quarter. Signaturefd LLC now owns 1,359 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 118 shares in the last quarter. Finally, Insight Wealth Strategies LLC increased its holdings in shares of Interactive Brokers Group by 0.7% during the third quarter. Insight Wealth Strategies LLC now owns 18,686 shares of the financial services provider’s stock valued at $2,604,000 after purchasing an additional 125 shares during the period. 23.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IBKR shares. Jefferies Financial Group upped their price target on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods lowered Interactive Brokers Group from an “outperform” rating to a “market perform” rating and increased their price target for the company from $128.00 to $135.00 in a research note on Thursday, July 11th. UBS Group boosted their price objective on Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays decreased their target price 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $163.00 target price on shares of Interactive Brokers Group in a report 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.00.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock traded up $1.20 during midday trading on Friday, reaching $153.78. The stock had a trading volume of 739,908 shares, compared to its average volume of 999,753. Interactive Brokers Group, Inc. has a twelve month low of $72.60 and a twelve month high of $154.75. The firm has a market cap of $64.75 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.19 and a beta of 0.80. The firm’s fifty day simple moving average is $138.72 and its two-hundred day simple moving average is $126.98.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.03). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $1.32 billion. Interactive Brokers Group had a return on equity of 4.82% and a net margin of 7.89%. During the same period last year, the business earned $1.55 EPS. As a group, sell-side analysts predict that Interactive Brokers Group, Inc. will post 6.9 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 0.65%. The ex-dividend date is Friday, November 29th. Interactive Brokers Group’s dividend payout ratio (DPR) is currently 15.27%.

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.