JPMorgan Chase & Co. Trims Position in Interactive Brokers Group, Inc. (IBKR)

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JPMorgan Chase & Co. cut its position in shares of Interactive Brokers Group, Inc. (IEX:IBKR) by 30.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 130,338 shares of the financial services provider’s stock after selling 57,191 shares during the quarter. JPMorgan Chase & Co.’s holdings in Interactive Brokers Group were worth $7,209,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of IBKR. BlackRock Inc. raised its holdings in shares of Interactive Brokers Group by 5.1% in the third quarter. BlackRock Inc. now owns 6,524,616 shares of the financial services provider’s stock worth $360,876,000 after acquiring an additional 315,546 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Interactive Brokers Group by 1.2% in the third quarter. Baillie Gifford & Co. now owns 6,364,938 shares of the financial services provider’s stock worth $352,044,000 after acquiring an additional 76,142 shares during the last quarter. Cantillon Capital Management LLC raised its holdings in shares of Interactive Brokers Group by 5.7% in the third quarter. Cantillon Capital Management LLC now owns 2,615,325 shares of the financial services provider’s stock worth $144,653,000 after acquiring an additional 141,788 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Interactive Brokers Group by 30.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,318,110 shares of the financial services provider’s stock worth $72,905,000 after acquiring an additional 308,908 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Interactive Brokers Group by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 963,280 shares of the financial services provider’s stock worth $53,278,000 after acquiring an additional 15,089 shares during the last quarter. 14.79% of the stock is owned by hedge funds and other institutional investors.

In related news, President Milan Galik bought 415 shares of the firm’s stock in a transaction dated Saturday, December 15th. The stock was bought at an average price of $60.40 per share, with a total value of $25,066.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Aj Frank sold 564 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $62.00, for a total value of $34,968.00. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Interactive Brokers Group stock opened at $54.42 on Thursday. Interactive Brokers Group, Inc. has a 52 week low of $47.13 and a 52 week high of $80.32.

Interactive Brokers Group (IEX:IBKR) last released its earnings results on Tuesday, January 22nd. The financial services provider reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.02). The company had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $512.00 million. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Friday, March 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.40 annualized dividend and a yield of 0.74%.

A number of equities analysts have recently weighed in on IBKR shares. Zacks Investment Research cut Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 12th. Goldman Sachs Group started coverage on Interactive Brokers Group in a report on Friday, November 30th. They issued a “neutral” rating and a $58.00 price target for the company. Finally, Wells Fargo & Co reissued a “sell” rating on shares of Interactive Brokers Group in a report on Wednesday, January 23rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.00.

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About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker in approximately 120 electronic exchanges and market centers worldwide. It specializes in executing and clearing trades in securities, futures, foreign exchange instruments, bonds, and mutual funds. The company custodies and services accounts for hedge and mutual funds, registered investment advisors, proprietary trading groups, introducing brokers, and individual investors.

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Institutional Ownership by Quarter for Interactive Brokers Group (IEX:IBKR)

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