Zacks Research Comments on Interactive Brokers Group, Inc.’s Q2 2024 Earnings (NASDAQ:IBKR)

Interactive Brokers Group, Inc. (NASDAQ:IBKR) – Equities researchers at Zacks Research upped their Q2 2024 earnings per share (EPS) estimates for Interactive Brokers Group in a research note issued to investors on Tuesday, May 7th. Zacks Research analyst S. Shah now anticipates that the financial services provider will post earnings of $1.53 per share for the quarter, up from their previous forecast of $1.51. The consensus estimate for Interactive Brokers Group’s current full-year earnings is $6.46 per share. Zacks Research also issued estimates for Interactive Brokers Group’s Q3 2024 earnings at $1.53 EPS, Q4 2024 earnings at $1.51 EPS, FY2024 earnings at $6.20 EPS, Q1 2025 earnings at $1.54 EPS, Q2 2025 earnings at $1.45 EPS, FY2025 earnings at $5.87 EPS, Q1 2026 earnings at $1.47 EPS and FY2026 earnings at $5.69 EPS.

Several other research analysts have also recently issued reports on the company. Piper Sandler increased their price objective on Interactive Brokers Group from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Jefferies Financial Group upped their price objective on shares of Interactive Brokers Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Citigroup boosted their price objective on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Bank of America boosted their price target on Interactive Brokers Group from $147.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Barclays upped their price objective on Interactive Brokers Group from $132.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Interactive Brokers Group Trading Down 0.7 %

NASDAQ:IBKR opened at $119.72 on Thursday. The stock has a fifty day simple moving average of $112.13 and a 200-day simple moving average of $95.78. The company has a market cap of $50.41 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81. Interactive Brokers Group has a twelve month low of $72.60 and a twelve month high of $122.88.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 31st. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.10. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. Interactive Brokers Group’s dividend payout ratio (DPR) is 17.09%.

Insiders Place Their Bets

In other news, Vice Chairman Earl H. Nemser sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the transaction, the insider now owns 123,770 shares in the company, valued at $12,813,908.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Vice Chairman Earl H. Nemser sold 10,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the transaction, the insider now directly owns 123,770 shares of the company’s stock, valued at approximately $12,813,908.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Earl H. Nemser sold 5,000 shares of Interactive Brokers Group stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $104.86, for a total value of $524,300.00. Following the sale, the insider now directly owns 113,770 shares of the company’s stock, valued at approximately $11,929,922.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,000 shares of company stock valued at $6,613,100. 3.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IBKR. Vanguard Group Inc. grew its position in Interactive Brokers Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 9,690,056 shares of the financial services provider’s stock worth $803,306,000 after purchasing an additional 123,226 shares during the period. Greenwich Wealth Management LLC grew its holdings in Interactive Brokers Group by 6.5% during the third quarter. Greenwich Wealth Management LLC now owns 3,117,859 shares of the financial services provider’s stock worth $269,882,000 after acquiring an additional 189,555 shares during the period. FMR LLC raised its position in Interactive Brokers Group by 211.7% during the third quarter. FMR LLC now owns 1,773,533 shares of the financial services provider’s stock valued at $153,517,000 after acquiring an additional 1,204,573 shares in the last quarter. Norges Bank acquired a new position in Interactive Brokers Group in the fourth quarter valued at approximately $97,476,000. Finally, Bank of New York Mellon Corp boosted its position in Interactive Brokers Group by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 985,585 shares of the financial services provider’s stock worth $85,312,000 after purchasing an additional 11,333 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.