CIBC Asset Management Inc Grows Stock Holdings in Interactive Brokers Group, Inc. $IBKR

CIBC Asset Management Inc raised its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 88.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 104,463 shares of the financial services provider’s stock after buying an additional 49,048 shares during the period. CIBC Asset Management Inc’s holdings in Interactive Brokers Group were worth $6,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of IBKR. AQR Capital Management LLC boosted its position in shares of Interactive Brokers Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after buying an additional 2,713 shares during the period. Brown Advisory Inc. boosted its position in shares of Interactive Brokers Group by 307.9% during the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after buying an additional 10,943 shares during the period. Cerity Partners LLC purchased a new position in shares of Interactive Brokers Group during the second quarter worth $318,000. Daiwa Securities Group Inc. boosted its position in shares of Interactive Brokers Group by 291.2% during the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock worth $1,973,000 after buying an additional 26,500 shares during the period. Finally, AXA S.A. boosted its position in shares of 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 worth $710,000 after buying an additional 7,197 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $84.40 on Friday. The company has a market capitalization of $143.17 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32. The business has a 50-day moving average of $79.02 and a two-hundred day moving average of $72.58. Interactive Brokers Group, Inc. has a 1 year low of $49.15 and a 1 year high of $91.02.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.Interactive Brokers Group’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 EPS. As a group, equities research analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.0875 per share. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 15.09%.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of Interactive Brokers Group stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

IBKR has been the subject of several research analyst reports. Jefferies Financial Group lowered their price target on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. BMO Capital Markets raised their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods began coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price for the company. The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a report on Friday, May 1st. Finally, Piper Sandler upped their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.25.

About Interactive Brokers Group

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.