Dumont & Blake Increases Stake in Interactive Brokers by 307%

Dumont & Blake Investment Advisors LLC has significantly increased its investment in Interactive Brokers Group, Inc. (NASDAQ: IBKR) by acquiring an additional 24,609 shares, resulting in a total holding of 32,636 shares. This move represents a remarkable increase of 306.6% during the second quarter of 2023, according to a report from HoldingsChannel. The value of Dumont & Blake’s holdings is now approximately $1.8 million based on its latest filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made notable adjustments to their positions in Interactive Brokers. For instance, GAMMA Investing LLC enhanced its stake by 34.7% in the first quarter, now owning 2,560 shares valued at around $424,000 after acquiring an additional 660 shares. Similarly, Wealth Enhancement Advisory Services LLC increased its holdings by 245.5%, bringing its total to 48,364 shares worth $8.01 million after purchasing an extra 34,364 shares.

QRG Capital Management Inc. and the State of Alaska Department of Revenue have also increased their stakes by 3.7% and 2.7% respectively during the same quarter. Collectively, institutional investors now own approximately 23.8% of Interactive Brokers’ stock.

Insider Transactions and Market Performance

In related developments, Vice Chairman Earl H. Nemser sold 194,086 shares on August 12, 2023, at an average price of $67.49, totaling over $13.09 million. Following this transaction, he retained 461,500 shares valued at approximately $31.15 million, marking a 29.6% decrease in his position. Chief Financial Officer Paul Jonathan Brody also sold 116,861 shares on September 18, 2023, at an average price of $64.73, resulting in a total transaction of about $7.56 million. After this sale, Brody holds 158,954 shares worth approximately $10.29 million, reflecting a 42.37% reduction in his holdings.

In total, insiders sold 1,205,683 shares valued at approximately $77.22 million in the last quarter. Currently, insiders own about 2.97% of the company’s stock.

Financial Highlights and Dividend Announcement

As of October 16, 2023, Interactive Brokers Group’s shares opened at $66.23, with a market capitalization of $112.34 billion. The company’s price-to-earnings (P/E) ratio stands at 31.80, while the price-to-earnings growth (P/E/G) ratio is 2.71. The firm has experienced a 52-week range of $32.82 to $73.35.

In its most recent earnings report, Interactive Brokers revealed earnings per share (EPS) of $0.57, surpassing analyst estimates of $0.49 by $0.08. The company reported revenue of $1.66 billion for the quarter, exceeding estimates of $1.47 billion. This marks a 21.2% increase in revenue compared to the same quarter last year.

Additionally, Interactive Brokers has announced a quarterly dividend of $0.08, payable on December 12, 2023, to shareholders of record on December 1, 2023. This translates to an annualized dividend of $0.32, yielding approximately 0.5%. The company’s dividend payout ratio is currently 15.38%.

Interactive Brokers Group, Inc. operates as an automated electronic broker, facilitating the execution, clearance, and settlement of a wide range of trading instruments, including stocks, options, futures, and cryptocurrencies. As the financial landscape continues to evolve, the firm’s strategic moves and performance will be closely monitored by investors and analysts alike.