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

PNC Financial Services Group Inc. reduced its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 3.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,839 shares of the financial services provider’s stock after selling 315 shares during the period. PNC Financial Services Group Inc.’s holdings in Interactive Brokers Group were worth $1,232,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tortoise Investment Management LLC boosted its position in shares of Interactive Brokers Group by 76.6% during the second quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 111 shares during the last quarter. Fairfield Financial Advisors LTD bought a new stake in Interactive Brokers Group in the 2nd quarter valued at $32,000. UMB Bank n.a. lifted its stake in Interactive Brokers Group by 350.0% in the 3rd quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 224 shares in the last quarter. DT Investment Partners LLC boosted its holdings in shares of Interactive Brokers Group by 60.1% during the 3rd quarter. DT Investment Partners LLC now owns 389 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 146 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Interactive Brokers Group by 445.5% during the 3rd quarter. Huntington National Bank now owns 420 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 343 shares during the last quarter. 23.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays reduced their target price on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Jefferies Financial Group lifted their price objective on Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Piper Sandler reiterated an “overweight” rating and set a $163.00 target price on shares of Interactive Brokers Group in a research report on Wednesday, October 16th. Finally, UBS Group raised their target price on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $191.31 on Thursday. The firm has a market capitalization of $80.83 billion, a PE ratio of 29.21, a PEG ratio of 1.50 and a beta of 0.79. The stock’s fifty day moving average is $156.53 and its 200 day moving average is $134.62. Interactive Brokers Group, Inc. has a fifty-two week low of $72.60 and a fifty-two week high of $193.42.

Interactive Brokers Group (NASDAQ:IBKR) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company posted $1.55 EPS. Equities analysts forecast that Interactive Brokers Group, Inc. will post 6.82 EPS for the current year.

Interactive Brokers Group Dividend Announcement

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

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.