Principal Financial Group Inc. Sells 93,941 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Principal Financial Group Inc. cut its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 366,204 shares of the financial services provider's stock after selling 93,941 shares during the period. Principal Financial Group Inc. owned 0.09% of Interactive Brokers Group worth $51,034,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Boston Financial Mangement LLC boosted its holdings in shares of Interactive Brokers Group by 5.4% in the 3rd quarter. Boston Financial Mangement LLC now owns 1,955 shares of the financial services provider's stock valued at $272,000 after buying an additional 100 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in Interactive Brokers Group by 5.6% in the third quarter. First Citizens Bank & Trust Co. now owns 2,007 shares of the financial services provider's stock valued at $280,000 after acquiring an additional 107 shares during the last quarter. Tortoise Investment Management LLC grew its position in shares of 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 valued at $31,000 after acquiring an additional 111 shares during the period. Signaturefd LLC increased its stake in shares of Interactive Brokers Group by 9.5% during the 3rd quarter. Signaturefd LLC now owns 1,359 shares of the financial services provider's stock worth $189,000 after purchasing an additional 118 shares during the last quarter. Finally, Insight Wealth Strategies LLC raised its holdings in shares of Interactive Brokers Group by 0.7% in the 3rd 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 currently owned by institutional investors.

Interactive Brokers Group Stock Up 5.7 %

Shares of IBKR stock traded up $9.75 on Monday, reaching $179.49. The company had a trading volume of 2,144,221 shares, compared to its average volume of 1,007,963. The business's 50-day moving average is $143.39 and its 200 day moving average is $129.45. Interactive Brokers Group, Inc. has a one year low of $72.60 and a one year high of $179.68. The stock has a market capitalization of $75.58 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.79.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly 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). Interactive Brokers Group had a return on equity of 4.82% and a net margin of 7.89%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company posted $1.55 earnings per share. On average, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 6.9 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 0.56%. The ex-dividend date is Friday, November 29th. Interactive Brokers Group's payout ratio is 15.27%.

Wall Street Analyst Weigh In

IBKR has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $163.00 price objective on shares of Interactive Brokers Group in a research report on Wednesday, October 16th. Jefferies Financial Group increased their target price on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Barclays decreased their price target on Interactive Brokers Group from $166.00 to $165.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Finally, UBS Group upped their price objective on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Interactive Brokers Group has a consensus rating of "Moderate Buy" and an average target price of $143.00.

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.