California State Teachers Retirement System Acquires 53,079,364 Shares of Interactive Brokers Group, Inc. $IBKR

California State Teachers Retirement System boosted its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 8,229.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 53,724,396 shares of the financial services provider’s stock after buying an additional 53,079,364 shares during the quarter. California State Teachers Retirement System’s holdings in Interactive Brokers Group were worth $4,676,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 2,713 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Interactive Brokers Group by 307.9% in the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after purchasing an additional 10,943 shares in the last quarter. Cerity Partners LLC bought a new position in Interactive Brokers Group in the 2nd quarter worth $318,000. Daiwa Securities Group Inc. raised its holdings in Interactive Brokers Group by 291.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after purchasing an additional 26,500 shares during the period. Finally, AXA S.A. lifted its position in Interactive Brokers Group by 128.1% during the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 7,197 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IBKR has been the subject of several recent research reports. BMO Capital Markets reissued an “outperform” rating and set a $110.00 price target (up from $105.00) on shares of Interactive Brokers Group in a report on Wednesday, July 22nd. Piper Sandler set a $109.00 price objective on Interactive Brokers Group in a research note on Wednesday, July 22nd. Wolfe Research assumed coverage on shares of Interactive Brokers Group in a report on Monday, June 8th. They issued an “outperform” rating and a $101.00 target price for the company. UBS Group lowered shares of Interactive Brokers Group from a “buy” rating to a “neutral” rating and upped their price target for the stock from $50.00 to $102.00 in a research report on Tuesday, September 1st. Finally, Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.90.

Interactive Brokers Group Price Performance

IBKR stock opened at $90.28 on Thursday. Interactive Brokers Group, Inc. has a 1-year low of $58.95 and a 1-year high of $98.75. The company has a market capitalization of $153.60 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 1.68 and a beta of 1.35. The business has a 50 day simple moving average of $92.14 and a two-hundred day simple moving average of $83.56.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. Sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.68 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

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

Interactive Brokers Group Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and related financial services to individual investors, financial professionals, hedge funds, proprietary trading groups and other institutional clients. Through its online platforms, the company offers access to stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and other investment products.

The company operates a technology-focused brokerage platform designed to provide access to multiple markets and asset classes from a single account.