Great Lakes Advisors LLC Makes New $650,000 Investment in Interactive Brokers Group, Inc. $IBKR

Great Lakes Advisors LLC bought a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,466 shares of the financial services provider’s stock, valued at approximately $650,000.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased 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 valued at $2,269,000 after acquiring an additional 2,713 shares during the last quarter. Brown Advisory Inc. boosted its position in Interactive Brokers Group by 307.9% in the second 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 during the last quarter. Cerity Partners LLC purchased a new position in Interactive Brokers Group in the second quarter worth $318,000. Daiwa Securities Group Inc. grew its stake 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 valued at $1,973,000 after purchasing an additional 26,500 shares during the period. Finally, AXA S.A. grew its stake in Interactive Brokers Group by 128.1% in the 2nd 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 during the period. Institutional investors own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

IBKR has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a research note on Friday, May 1st. China Renaissance assumed coverage on shares of Interactive Brokers Group in a research report on Tuesday, July 7th. They set a “hold” rating for the company. Piper Sandler set a $109.00 price objective on shares of Interactive Brokers Group in a report on Wednesday, July 22nd. Bank of America raised their price objective on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Zacks Research raised shares of Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.89.

Interactive Brokers Group Price Performance

NASDAQ:IBKR opened at $93.87 on Friday. The business has a fifty day simple moving average of $91.96 and a two-hundred day simple moving average of $81.77. Interactive Brokers Group, Inc. has a 1 year low of $58.95 and a 1 year high of $97.84. The company has a market capitalization of $159.71 billion, a P/E ratio of 37.55, a P/E/G ratio of 1.73 and a beta of 1.34.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results 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 return on equity of 5.37% and a net margin of 9.94%.The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. As a group, analysts anticipate that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, September 1st will be issued a $0.0875 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group’s dividend payout ratio (DPR) is 14.00%.

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.