Piper Sandler Increases Interactive Brokers Group (NASDAQ:IBKR) Price Target to $88.00

Interactive Brokers Group (NASDAQ:IBKRGet Free Report) had its target price increased by research analysts at Piper Sandler from $80.00 to $88.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 15.94% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on IBKR. Barclays boosted their price objective on Interactive Brokers Group from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. BMO Capital Markets increased their target price on shares of Interactive Brokers Group from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Zacks Research lowered shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Jefferies Financial Group decreased their target price on shares of Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Keefe, Bruyette & Woods began coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold 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 $83.25.

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Interactive Brokers Group Stock Down 2.8%

Shares of NASDAQ:IBKR opened at $75.90 on Wednesday. Interactive Brokers Group has a 12-month low of $40.58 and a 12-month high of $82.88. The stock has a market cap of $128.75 billion, a PE ratio of 32.72, a P/E/G ratio of 2.15 and a beta of 1.25. The business has a 50 day moving average of $71.13 and a 200-day moving average of $69.68.

Interactive Brokers Group (NASDAQ:IBKRGet Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. Equities research analysts expect that Interactive Brokers Group will post 2.46 earnings per share for the current year.

Insider Buying and Selling

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 94,800 shares of the firm’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $76.19, for a total value of $7,222,812.00. Following the transaction, the insider directly owned 60,200 shares of the company’s stock, valued at $4,586,638. This trade represents a 61.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interactive Brokers Group

Several hedge funds have recently bought and sold shares of IBKR. Vanguard Group Inc. increased its holdings in Interactive Brokers Group by 26.4% in the 3rd quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider’s stock valued at $3,637,234,000 after buying an additional 11,048,679 shares during the period. Norges Bank bought a new position in Interactive Brokers Group in the 4th quarter valued at about $453,146,000. Orbis Allan Gray Ltd increased its holdings in Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after buying an additional 6,246,715 shares during the period. Bank of America Corp DE increased its holdings in Interactive Brokers Group by 225.4% in the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after buying an additional 5,260,923 shares during the period. Finally, State Street Corp increased its holdings in Interactive Brokers Group by 23.2% in the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock valued at $1,283,221,000 after buying an additional 3,517,729 shares during the period. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group News Roundup

Here are the key news stories impacting Interactive Brokers Group this week:

Interactive Brokers Group Company Profile

(Get Free Report)

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

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