Interactive Brokers Group (NASDAQ:IBKR) Upgraded at Zacks Research

Zacks Research upgraded shares of Interactive Brokers Group (NASDAQ:IBKR) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wolfe Research began coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 price target on the stock. BMO Capital Markets raised their price objective on Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Piper Sandler set a $105.00 target price on Interactive Brokers Group and gave the company an “overweight” rating in a research report on Wednesday. Bank of America lifted their target price on Interactive Brokers Group from $83.00 to $106.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group dropped their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.89.

Interactive Brokers Group Stock Down 1.8%

NASDAQ IBKR opened at $90.53 on Wednesday. Interactive Brokers Group has a 12-month low of $58.95 and a 12-month high of $97.84. The company has a market capitalization of $153.57 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 2.11 and a beta of 1.33. The firm’s 50 day moving average is $89.43 and its 200-day moving average is $78.48.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 earnings per share. As a group, sell-side analysts expect that Interactive Brokers Group will post 2.55 EPS for the current year.

Interactive Brokers Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s payout ratio is 15.09%.

Insider Transactions at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Interactive Brokers Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Reflection Asset Management acquired a new position in shares of Interactive Brokers Group in the fourth quarter valued at about $26,000. IMA Advisory Services Inc. raised its stake in Interactive Brokers Group by 64.3% in the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 178 shares in the last quarter. Tobam bought a new stake in Interactive Brokers Group in the 4th quarter valued at about $30,000. Entrust Financial LLC bought a new stake in Interactive Brokers Group in the 4th quarter valued at about $31,000. Finally, SHP Wealth Management acquired a new position in shares of Interactive Brokers Group during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

About Interactive Brokers Group

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.