Coronation Fund Managers Ltd. Sells 54,938 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Coronation Fund Managers Ltd. cut its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 14.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 325,752 shares of the financial services provider's stock after selling 54,938 shares during the quarter. Interactive Brokers Group makes up 2.5% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 13th largest holding. Coronation Fund Managers Ltd. owned about 0.08% of Interactive Brokers Group worth $45,397,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBKR. Tortoise Investment Management LLC raised its holdings in shares of Interactive Brokers Group by 76.6% in the second quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider's stock valued at $31,000 after buying an additional 111 shares during the last quarter. Fairfield Financial Advisors LTD bought a new position in shares of Interactive Brokers Group in the second quarter valued at about $32,000. UMB Bank n.a. raised its holdings in shares of Interactive Brokers Group by 350.0% in the third quarter. UMB Bank n.a. now owns 288 shares of the financial services provider's stock valued at $40,000 after buying an additional 224 shares during the last quarter. DT Investment Partners LLC raised its holdings in shares of Interactive Brokers Group by 60.1% in the third quarter. DT Investment Partners LLC now owns 389 shares of the financial services provider's stock valued at $54,000 after buying an additional 146 shares during the last quarter. Finally, Mendota Financial Group LLC bought a new position in shares of Interactive Brokers Group in the third quarter valued at about $81,000. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock traded up $1.20 during trading on Friday, hitting $153.78. 739,908 shares of the company were exchanged, compared to its average volume of 948,601. The firm has a market capitalization of $64.75 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.18 and a beta of 0.79. Interactive Brokers Group, Inc. has a 1-year low of $72.60 and a 1-year high of $154.75. The firm's fifty day moving average price is $138.72 and its 200 day moving average price is $127.12.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). The company had revenue of $2.45 billion for 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 quarter in the previous year, the firm posted $1.55 earnings per share. As a group, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 6.9 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.00 annualized dividend and a dividend yield of 0.65%. Interactive Brokers Group's dividend payout ratio is presently 15.27%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods cut Interactive Brokers Group from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $128.00 to $135.00 in a report on Thursday, July 11th. Barclays dropped their price objective on Interactive Brokers Group from $166.00 to $165.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Piper Sandler reissued an "overweight" rating and set a $163.00 price objective on shares of Interactive Brokers Group in a report on Wednesday, October 16th. 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 report on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their price objective on Interactive Brokers Group from $152.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $143.00.

Interactive Brokers Group 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.