Zacks Investment Research upgraded shares of Interactive Brokers Group (NASDAQ:IBKR) from a hold rating to a strong-buy rating in a research report released 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.”
Other research analysts have also issued research reports about the stock. Goldman Sachs Group lowered shares of Interactive Brokers Group from a neutral rating to a sell rating and set a $59.00 price target on the stock. in a research note on Monday, January 8th. BidaskClub lowered shares of Interactive Brokers Group from a buy rating to a hold rating in a research note on Thursday, January 4th. Finally, SunTrust Banks boosted their price objective on shares of Interactive Brokers Group to $48.00 and gave the stock an average rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Interactive Brokers Group has a consensus rating of Hold and an average target price of $50.33.
Interactive Brokers Group (NASDAQ:IBKR) traded down $1.41 on Monday, reaching $65.39. 641,480 shares of the company’s stock traded hands, compared to its average volume of 853,117. Interactive Brokers Group has a 52-week low of $33.01 and a 52-week high of $67.42. The firm has a market cap of $26,345.07 and a PE ratio of 61.11.
Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.36 by $0.07. Interactive Brokers Group had a net margin of 3.94% and a return on equity of 1.74%. The company had revenue of $515.00 million during the quarter, compared to analysts’ expectations of $398.05 million. During the same quarter in the previous year, the company earned $0.07 EPS. Interactive Brokers Group’s revenue was up 166.8% on a year-over-year basis. equities research analysts expect that Interactive Brokers Group will post 2.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders 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 0.61%. Interactive Brokers Group’s dividend payout ratio is currently 37.38%.
In related news, Vice Chairman Earl H. Nemser sold 32,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $62.80, for a total transaction of $2,009,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Aj Frank sold 54,903 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $54.21, for a total transaction of $2,976,291.63. The disclosure for this sale can be found here. Insiders own 3.41% of the company’s stock.
Several hedge funds have recently bought and sold shares of IBKR. Schwab Charles Investment Management Inc. lifted its holdings in shares of Interactive Brokers Group by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 182,308 shares of the financial services provider’s stock worth $6,822,000 after acquiring an additional 3,009 shares during the last quarter. State of Wisconsin Investment Board increased its stake in shares of Interactive Brokers Group by 3.8% in the second quarter. State of Wisconsin Investment Board now owns 13,137 shares of the financial services provider’s stock valued at $492,000 after buying an additional 480 shares during the period. Legal & General Group Plc increased its stake in shares of Interactive Brokers Group by 8.9% in the second quarter. Legal & General Group Plc now owns 129,081 shares of the financial services provider’s stock valued at $4,830,000 after buying an additional 10,558 shares during the period. Utah Retirement Systems increased its stake in shares of Interactive Brokers Group by 5.2% in the second quarter. Utah Retirement Systems now owns 12,084 shares of the financial services provider’s stock valued at $452,000 after buying an additional 600 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of Interactive Brokers Group by 45.1% in the second quarter. Neuberger Berman Group LLC now owns 35,547 shares of the financial services provider’s stock valued at $1,330,000 after buying an additional 11,051 shares during the period. 15.79% of the stock is owned by hedge funds and other institutional investors.
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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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