Principal Financial Group Inc. Lowers Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Principal Financial Group Inc. decreased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 460,145 shares of the financial services provider's stock after selling 99,756 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Interactive Brokers Group worth $56,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Panagora Asset Management Inc. lifted its stake in Interactive Brokers Group by 118.2% in the second quarter. Panagora Asset Management Inc. now owns 4,800 shares of the financial services provider's stock worth $588,000 after acquiring an additional 2,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Interactive Brokers Group by 27.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,013 shares of the financial services provider's stock worth $2,821,000 after acquiring an additional 4,889 shares during the last quarter. Hosking Partners LLP lifted its stake in Interactive Brokers Group by 39.7% in the second quarter. Hosking Partners LLP now owns 261,717 shares of the financial services provider's stock worth $32,087,000 after acquiring an additional 74,391 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Interactive Brokers Group by 116.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 704 shares of the financial services provider's stock worth $86,000 after buying an additional 378 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its position in shares of Interactive Brokers Group by 43.9% during the 2nd quarter. Atomi Financial Group Inc. now owns 5,177 shares of the financial services provider's stock worth $635,000 after buying an additional 1,580 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on IBKR shares. Barclays boosted their price objective on shares of Interactive Brokers Group from $145.00 to $147.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods downgraded shares of Interactive Brokers Group from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $128.00 to $135.00 in a research report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on shares of Interactive Brokers Group from $138.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, July 8th. Finally, UBS Group boosted their price objective on shares of Interactive Brokers Group from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $132.33.

Interactive Brokers Group Trading Up 1.4 %

Shares of Interactive Brokers Group stock traded up $1.82 on Friday, reaching $128.89. 703,368 shares of the stock were exchanged, compared to its average volume of 1,017,659. The firm has a market capitalization of $54.27 billion, a PE ratio of 21.84, a PEG ratio of 1.07 and a beta of 0.81. Interactive Brokers Group, Inc. has a 1-year low of $72.60 and a 1-year high of $129.19. The business has a fifty day moving average price of $121.12 and a two-hundred day moving average price of $117.04.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.02. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.27 billion. Interactive Brokers Group had a net margin of 7.88% and a return on equity of 4.88%. The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. Research analysts expect that Interactive Brokers Group, Inc. will post 6.76 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 30th. This represents a $1.00 annualized dividend and a yield of 0.78%. Interactive Brokers Group's dividend payout ratio is currently 17.09%.

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.

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