Progeny 3 Inc. Invests $17.70 Million in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Progeny 3 Inc. acquired a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 127,000 shares of the financial services provider’s stock, valued at approximately $17,699,000. Interactive Brokers Group comprises about 1.5% of Progeny 3 Inc.’s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of Interactive Brokers Group by 1,292.1% in the second quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider’s stock worth $132,655,000 after purchasing an additional 1,004,289 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in Interactive Brokers Group in the 3rd quarter valued at about $83,630,000. Marshall Wace LLP increased its stake in Interactive Brokers Group by 23.8% during the 2nd quarter. Marshall Wace LLP now owns 2,507,059 shares of the financial services provider’s stock valued at $307,365,000 after buying an additional 481,826 shares during the period. Waverton Investment Management Ltd bought a new position in shares of Interactive Brokers Group in the third quarter valued at approximately $26,946,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Interactive Brokers Group by 262.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 258,353 shares of the financial services provider’s stock worth $36,004,000 after purchasing an additional 187,010 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $191.09 on Friday. Interactive Brokers Group, Inc. has a fifty-two week low of $76.89 and a fifty-two week high of $193.42. The firm’s 50 day simple moving average is $158.93 and its 200-day simple moving average is $135.41. The company has a market cap of $80.74 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.50 and a beta of 0.79.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.03). Interactive Brokers Group had a net margin of 7.89% and a return on equity of 4.83%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned $1.55 EPS. On average, analysts expect that Interactive Brokers Group, Inc. will post 6.82 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.00 annualized dividend and a dividend yield of 0.52%. Interactive Brokers Group’s dividend payout ratio is 15.27%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $163.00 price target on shares of Interactive Brokers Group in a research report on Wednesday, October 16th. UBS Group lifted their target price on Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays cut their price target on shares of Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.