Interactive Brokers Group (NASDAQ:IBKR) Price Target Raised to $106.00

Interactive Brokers Group (NASDAQ:IBKR) had its price target increased by Bank of America from $83.00 to $106.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on IBKR. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 target price for the company. China Renaissance initiated coverage on Interactive Brokers Group in a research note on Tuesday, July 7th. They issued a “hold” rating on the stock. Jefferies Financial Group cut their price objective 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. Wolfe Research started coverage on shares of Interactive Brokers Group in a research note on Monday, June 8th. They set an “outperform” rating and a $101.00 price objective for the company. Finally, The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.89.

Interactive Brokers Group Price Performance

IBKR stock opened at $92.21 on Tuesday. Interactive Brokers Group has a 12 month low of $58.80 and a 12 month high of $97.84. The firm has a market cap of $156.42 billion, a PE ratio of 39.75, a P/E/G ratio of 2.26 and a beta of 1.33. The firm has a 50 day simple moving average of $89.31 and a 200 day simple moving average of $78.40.

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, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. As a group, sell-side analysts expect that Interactive Brokers Group will post 2.51 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

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

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares of the company’s stock, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Interactive Brokers Group

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Interactive Brokers Group by 1.0% during the 4th quarter. State Street Corp now owns 18,836,521 shares of the financial services provider’s stock worth $1,211,377,000 after purchasing an additional 187,763 shares in the last quarter. Cantillon Capital Management LLC grew its stake in shares of Interactive Brokers Group by 0.8% in the 4th quarter. Cantillon Capital Management LLC now owns 12,759,904 shares of the financial services provider’s stock valued at $820,589,000 after buying an additional 95,878 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Interactive Brokers Group by 17.6% in the 3rd quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider’s stock valued at $750,110,000 after buying an additional 1,630,620 shares in the last quarter. Orbis Allan Gray Ltd increased its holdings in Interactive Brokers Group by 178.8% in the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock worth $539,697,000 after buying an additional 6,246,715 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Interactive Brokers Group by 44.1% in the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock worth $533,026,000 after buying an additional 2,534,772 shares during the last quarter. 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.