Interactive Brokers Group (NASDAQ:IBKR) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Interactive Brokers Group (NASDAQ:IBKR) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the company. Citigroup upped their target price on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Interactive Brokers Group in a report on Saturday, September 27th. Wall Street Zen raised Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Piper Sandler upped their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, BMO Capital Markets initiated coverage on Interactive Brokers Group in a research note on Friday. They set an “outperform” rating and a $82.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.47.

Interactive Brokers Group Stock Performance

Interactive Brokers Group stock opened at $70.36 on Thursday. The firm has a market capitalization of $119.34 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 2.89 and a beta of 1.22. Interactive Brokers Group has a fifty-two week low of $32.82 and a fifty-two week high of $71.78. The stock’s fifty day moving average is $64.33 and its two-hundred day moving average is $54.63.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.Interactive Brokers Group’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 earnings per share. As a group, sell-side analysts forecast that Interactive Brokers Group will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 29th. Interactive Brokers Group’s payout ratio is currently 16.49%.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares of the company’s stock, valued at $31,146,635. The trade was a 29.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Paul Jonathan Brody sold 116,861 shares of Interactive Brokers Group stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.73, for a total value of $7,564,412.53. Following the completion of the transaction, the chief financial officer directly owned 158,954 shares in the company, valued at $10,289,092.42. This represents a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,205,683 shares of company stock worth $77,217,965 over the last ninety days. Corporate insiders own 2.97% of the company’s stock.

Hedge Funds Weigh In On Interactive Brokers Group

Hedge funds and other institutional investors have recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new position in Interactive Brokers Group during the 1st quarter worth approximately $26,000. ORG Partners LLC lifted its position in Interactive Brokers Group by 312.9% during the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 363 shares in the last quarter. Huntington National Bank lifted its position in Interactive Brokers Group by 51.8% during the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 176 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in Interactive Brokers Group by 300.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 423 shares in the last quarter. Finally, Private Wealth Asset Management LLC lifted its position in Interactive Brokers Group by 300.0% during the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 435 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

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.