Interactive Brokers Group, Inc. (NASDAQ:IBKR) Position Reduced by Bank of Nova Scotia

Bank of Nova Scotia cut its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 32.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,392 shares of the financial services provider's stock after selling 6,301 shares during the quarter. Bank of Nova Scotia's holdings in Interactive Brokers Group were worth $2,369,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Interactive Brokers Group by 8,249.3% during the fourth quarter. Wellington Management Group LLP now owns 1,494,029 shares of the financial services provider's stock valued at $263,950,000 after acquiring an additional 1,476,135 shares during the last quarter. Norges Bank purchased a new stake in Interactive Brokers Group during the fourth quarter worth about $229,316,000. Raymond James Financial Inc. acquired a new position in shares of Interactive Brokers Group in the fourth quarter valued at approximately $120,046,000. Renaissance Technologies LLC boosted its stake in shares of Interactive Brokers Group by 59.6% in the 4th quarter. Renaissance Technologies LLC now owns 604,910 shares of the financial services provider's stock valued at $106,869,000 after buying an additional 225,910 shares during the period. Finally, Invesco Ltd. grew its position in shares of Interactive Brokers Group by 39.0% during the fourth quarter. Invesco Ltd. now owns 765,959 shares of the financial services provider's stock worth $135,322,000 after buying an additional 214,844 shares in the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Interactive Brokers Group Trading Up 1.0 %

Shares of NASDAQ:IBKR traded up $1.62 on Friday, hitting $159.52. The company had a trading volume of 2,278,383 shares, compared to its average volume of 1,344,535. The company has a market cap of $67.41 billion, a PE ratio of 22.59, a PEG ratio of 1.59 and a beta of 1.02. Interactive Brokers Group, Inc. has a 52-week low of $103.69 and a 52-week high of $236.53. The business has a 50 day moving average of $185.02 and a 200 day moving average of $181.14.

Shares of Interactive Brokers Group are scheduled to split on Wednesday, June 18th. The 4-1 split was announced on Tuesday, April 15th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 17th.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $1.88 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.04). Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, equities analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. Interactive Brokers Group's payout ratio is 14.16%.

Insider Activity at Interactive Brokers Group

In other news, Director Jill Bright purchased 135 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $219.51 per share, with a total value of $29,633.85. Following the purchase, the director now directly owns 2,476 shares of the company's stock, valued at approximately $543,506.76. This represents a 5.77 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America dropped their price objective on shares of Interactive Brokers Group from $265.00 to $243.00 and set a "buy" rating on the stock in a research report on Wednesday. StockNews.com cut Interactive Brokers Group from a "hold" rating to a "sell" rating in a research report on Friday. Barclays increased their price target on Interactive Brokers Group from $188.00 to $193.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup lowered their target price on shares of Interactive Brokers Group from $242.00 to $215.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, UBS Group increased their price target on shares of Interactive Brokers Group from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.88.

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.