SummitTX Capital L.P. Grows Stake in Interactive Brokers Group, Inc. $IBKR

SummitTX Capital L.P. raised its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 992.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,531 shares of the financial services provider’s stock after purchasing an additional 60,439 shares during the period. SummitTX Capital L.P.’s holdings in Interactive Brokers Group were worth $4,462,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Reflection Asset Management purchased a new position in Interactive Brokers Group during the 4th quarter worth $26,000. IMA Advisory Services Inc. raised its stake in Interactive Brokers Group by 64.3% in the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after buying an additional 178 shares during the last quarter. Tobam acquired a new stake in Interactive Brokers Group in the fourth quarter worth about $30,000. Entrust Financial LLC purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $31,000. Finally, SHP Wealth Management purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Wolfe Research started coverage on shares of Interactive Brokers Group in a report on Monday, June 8th. They issued an “outperform” rating and a $101.00 price target for the company. Bank of America lifted their price objective on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. China Renaissance started coverage on Interactive Brokers Group in a research report on Tuesday, July 7th. They issued a “hold” rating on the stock. Finally, Piper Sandler set a $109.00 price target on Interactive Brokers Group in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.89.

Interactive Brokers Group Trading Up 0.6%

IBKR opened at $92.27 on Tuesday. Interactive Brokers Group, Inc. has a 12-month low of $58.95 and a 12-month high of $97.84. The firm has a market capitalization of $156.52 billion, a PE ratio of 36.91, a P/E/G ratio of 2.02 and a beta of 1.33. The firm has a 50 day moving average of $90.22 and a two-hundred day moving average of $79.63.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. As a group, analysts predict that Interactive Brokers Group, Inc. will post 2.64 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, September 1st will be given a dividend of $0.0875 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 14.00%.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.