Interactive Brokers Group (NASDAQ:IBKR) Reaches New 1-Year High on Strong Earnings

Interactive Brokers Group, Inc. (NASDAQ:IBKR)’s share price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $194.87 and last traded at $192.34, with a volume of 170508 shares trading hands. The stock had previously closed at $190.09.

The financial services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.22. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.11%. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1,372,590.34 billion. During the same period in the previous year, the business earned $1.52 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis.

Interactive Brokers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Friday, February 28th. Interactive Brokers Group’s payout ratio is currently 14.16%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IBKR shares. The Goldman Sachs Group boosted their target price on Interactive Brokers Group from $171.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler restated an “overweight” rating and issued a $210.00 target price (up previously from $200.00) on shares of Interactive Brokers Group in a report on Wednesday. UBS Group lifted their target price on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays increased their price target on Interactive Brokers Group from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, 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 report on Friday, October 4th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. bought a new stake in shares of Interactive Brokers Group in the 4th quarter valued at approximately $25,000. Versant Capital Management Inc raised its holdings in Interactive Brokers Group by 66.4% during the 4th quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares during the period. Blue Trust Inc. lifted its position in Interactive Brokers Group by 90.7% in the fourth quarter. Blue Trust Inc. now owns 185 shares of the financial services provider’s stock worth $33,000 after buying an additional 88 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in Interactive Brokers Group by 100.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 200 shares of the financial services provider’s stock worth $35,000 after buying an additional 100 shares during the period. Finally, UMB Bank n.a. boosted its stake in Interactive Brokers Group by 350.0% during the third quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock worth $40,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

The firm has a market cap of $88.64 billion, a P/E ratio of 29.71, a PEG ratio of 1.40 and a beta of 0.87. The stock’s 50-day simple moving average is $184.70 and its two-hundred day simple moving average is $151.85.

About Interactive Brokers Group

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.