Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Down Following Weak Earnings

Interactive Brokers Group, Inc. (NASDAQ:IBKR) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $173.43, but opened at $159.40. Interactive Brokers Group shares last traded at $157.06, with a volume of 1,545,453 shares traded.

The financial services provider reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.04). Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.37 billion.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. Interactive Brokers Group’s payout ratio is 14.16%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IBKR shares. StockNews.com raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 10th. Keefe, Bruyette & Woods raised their price objective on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Monday, January 13th. Piper Sandler lowered their price target on shares of Interactive Brokers Group from $210.00 to $192.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group lifted their price target on shares of Interactive Brokers Group from $225.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Citigroup dropped their price target on Interactive Brokers Group from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Interactive Brokers Group has an average rating of “Moderate Buy” and an average price target of $207.88.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Jill Bright purchased 135 shares of Interactive Brokers Group stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of $219.51 per share, for a total transaction of $29,633.85. Following the completion of the transaction, the director now directly owns 2,476 shares of the company’s stock, valued at approximately $543,506.76. The trade was a 5.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.99% of the stock is owned by corporate insiders.

Institutional Trading of Interactive Brokers Group

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in Interactive Brokers Group by 8,249.3% in the fourth quarter. Wellington Management Group LLP now owns 1,494,029 shares of the financial services provider’s stock worth $263,950,000 after purchasing an additional 1,476,135 shares during the period. Norges Bank purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at $229,316,000. Bank of America Corp DE raised its holdings in shares of Interactive Brokers Group by 91.4% during the fourth quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider’s stock valued at $413,226,000 after purchasing an additional 1,117,186 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Interactive Brokers Group in the fourth quarter worth $120,046,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Interactive Brokers Group by 22,211.1% in the first quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider’s stock worth $701,950,000 after buying an additional 422,010 shares during the last quarter. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Trading Down 9.0 %

The stock has a market capitalization of $66.72 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02. The firm has a 50 day moving average price of $186.35 and a 200 day moving average price of $181.00.

Shares of Interactive Brokers Group are scheduled to split on Wednesday, June 18th. The 4-1 split was announced on Tuesday, April 15th. The newly created shares will be payable to shareholders after the market closes on Tuesday, June 17th.

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.