Zacks Investment Research upgraded shares of Interactive Brokers Group (NASDAQ:IBKR) from a hold rating to a strong-buy rating in a research note issued to investors on Monday, January 8th. Zacks Investment Research currently has $68.00 target price on the financial services provider’s stock.
According to Zacks, “Interactive Brokers’ shares have significantly outperformed the industry in the past six months. Nevertheless, the company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. The company continues with its plans of streamlining operations and focus on strengthening its Electronic Brokerage segment. In sync with this, it sold U.S. options-market-making business (Timber Hill), which along with the other restructuring efforts will support financials. However, the company’s high dependence on IBG remains a concern because if IBG LLC fails to provide sufficient funds to pay taxes or for any other purpose, its financial condition may suffer.”
A number of other research analysts also recently issued reports on the company. Goldman Sachs Group downgraded Interactive Brokers Group from a neutral rating to a sell rating and set a $59.00 price target on the stock. in a report on Monday, January 8th. BidaskClub downgraded Interactive Brokers Group from a buy rating to a hold rating in a report on Thursday, January 4th. Finally, SunTrust Banks raised their price objective on Interactive Brokers Group to $48.00 and gave the stock an average rating in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $50.33.
Shares of Interactive Brokers Group (NASDAQ IBKR) traded down $0.63 during trading on Monday, reaching $61.98. The company had a trading volume of 316,530 shares, compared to its average volume of 1,080,000. The company has a market capitalization of $25,520.00, a price-to-earnings ratio of 57.39, a PEG ratio of 3.33 and a beta of 1.02. Interactive Brokers Group has a 52 week low of $33.01 and a 52 week high of $64.03.
Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Interactive Brokers Group had a return on equity of 1.76% and a net margin of 3.94%. The firm had revenue of $515.00 million for the quarter, compared to the consensus estimate of $398.05 million. During the same period in the prior year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 166.8% on a year-over-year basis. research analysts anticipate that Interactive Brokers Group will post 1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Thursday, March 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.65%. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 37.04%.
In related news, CAO Denis Mendonca sold 1,156 shares of Interactive Brokers Group stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $49.50, for a total value of $57,222.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Earl H. Nemser sold 1,683 shares of Interactive Brokers Group stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $49.37, for a total value of $83,089.71. The disclosure for this sale can be found here. In the last three months, insiders sold 345,321 shares of company stock valued at $18,129,724. Insiders own 3.41% of the company’s stock.
Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Interactive Brokers Group by 27.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,966 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 647 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Interactive Brokers Group by 71.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,295 shares during the last quarter. Creative Planning acquired a new position in shares of Interactive Brokers Group during the 4th quarter worth approximately $206,000. World Asset Management Inc acquired a new position in shares of Interactive Brokers Group during the 3rd quarter worth approximately $214,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Interactive Brokers Group during the 3rd quarter worth approximately $224,000. Institutional investors own 15.79% of the company’s stock.
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About Interactive Brokers Group
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.
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