Interactive Brokers Group (NASDAQ:IBKR) Reaches New 1-Year High – Here’s What Happened

Interactive Brokers Group, Inc. (NASDAQ:IBKR) reached a new 52-week high during trading on Monday . The stock traded as high as $68.32 and last traded at $68.08, with a volume of 2142042 shares traded. The stock had previously closed at $66.12.

Analyst Ratings Changes

IBKR has been the subject of a number of research analyst reports. Barclays upped their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Wall Street Zen raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Citigroup upped their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Finally, Piper Sandler boosted their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and an average target price of $59.38.

Interactive Brokers Group Trading Up 4.1%

The stock has a market cap of $116.69 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.69 and a beta of 1.23. The business’s fifty day simple moving average is $63.74 and its 200 day simple moving average is $53.79.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 earnings per share. As a group, research analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, September 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is currently 16.49%.

Insider Activity at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 116,861 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the sale, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Earl H. Nemser sold 194,086 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider directly owned 461,500 shares in the company, valued at $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,205,683 shares of company stock valued at $77,217,965. Company insiders own 2.97% of the company’s stock.

Institutional Trading of Interactive Brokers Group

A number of institutional investors have recently modified their holdings of the business. N.E.W. Advisory Services LLC purchased a new position in shares of Interactive Brokers Group during the first quarter worth about $26,000. ORG Partners LLC grew its stake in shares of Interactive Brokers Group by 312.9% in the second quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 363 shares during the last quarter. Huntington National Bank increased its stake in shares of Interactive Brokers Group by 51.8% during the second quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after buying an additional 176 shares during the period. Contravisory Investment Management Inc. lifted its stake in shares of Interactive Brokers Group by 300.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 423 shares during the period. Finally, Private Wealth Asset Management LLC grew its position in shares of Interactive Brokers Group by 300.0% in the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock worth $32,000 after buying an additional 435 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

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.