Interactive Brokers Group (NASDAQ:IBKR) Stock Rated “Overweight” in New Coverage at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Interactive Brokers Group (NASDAQ:IBKR) in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $102.00 target price on the financial services provider’s stock.

Several other research firms have also issued reports on IBKR. Weiss Ratings raised Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. BMO Capital Markets reissued an “outperform” rating and set a $110.00 price objective (up from $105.00) on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. China Renaissance assumed coverage on shares of Interactive Brokers Group in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Wolfe Research began 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. Finally, Bank of America upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Interactive Brokers Group Price Performance

IBKR stock opened at $88.30 on Friday. Interactive Brokers Group has a twelve month low of $58.95 and a twelve month high of $98.75. The firm has a market cap of $150.23 billion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 1.63 and a beta of 1.37. The business has a 50 day moving average of $90.66 and a 200 day moving average of $85.86.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping 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 business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. On average, research analysts expect that Interactive Brokers Group will post 2.69 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. Interactive Brokers Group’s dividend payout ratio is presently 14.00%.

Institutional Trading of Interactive Brokers Group

Several large investors have recently modified their holdings of the company. Reflection Asset Management purchased a new position in Interactive Brokers Group in the fourth quarter worth about $26,000. IMA Advisory Services Inc. increased its position in shares of Interactive Brokers Group by 64.3% during the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 178 shares during the last quarter. Tobam bought a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $30,000. SHP Wealth Management bought a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $31,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Interactive Brokers Group by 584.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 534 shares of the financial services provider’s stock worth $36,000 after buying an additional 456 shares during the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.