Interactive Brokers Group (NASDAQ:IBKR) Rating Increased to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of Interactive Brokers Group (NASDAQ:IBKR) to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on IBKR. Piper Sandler lifted their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays lifted their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Wall Street Zen raised shares of Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Citigroup lifted their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Interactive Brokers Group in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Interactive Brokers Group presently has an average rating of “Moderate Buy” and an average target price of $64.47.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $70.36 on Thursday. Interactive Brokers Group has a 1 year low of $32.82 and a 1 year high of $71.78. The stock has a market cap of $119.34 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.91 and a beta of 1.22. The firm has a 50-day moving average of $64.33 and a 200 day moving average of $54.56.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company posted $1.76 EPS. Interactive Brokers Group’s revenue was up 14.7% on a year-over-year basis. Research analysts expect that Interactive Brokers Group will post 7.46 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were issued a dividend of $0.08 per share. 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 presently 16.49%.

Insider Activity at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul Jonathan Brody sold 116,861 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.73, for a total transaction of $7,564,412.53. Following the transaction, the chief financial officer directly owned 158,954 shares of the company’s stock, valued at $10,289,092.42. The trade was a 42.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,205,683 shares of company stock valued at $77,217,965 over the last three months. 2.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IBKR. Vanguard Group Inc. grew its position in Interactive Brokers Group by 303.9% during the second quarter. Vanguard Group Inc. now owns 41,810,406 shares of the financial services provider’s stock valued at $2,316,715,000 after buying an additional 31,458,885 shares during the period. State Street Corp grew its position in Interactive Brokers Group by 301.3% during the second quarter. State Street Corp now owns 15,131,029 shares of the financial services provider’s stock valued at $838,410,000 after buying an additional 11,360,260 shares during the period. Cantillon Capital Management LLC grew its position in Interactive Brokers Group by 288.7% during the second quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider’s stock valued at $709,449,000 after buying an additional 9,509,805 shares during the period. Greenwich Wealth Management LLC grew its position in Interactive Brokers Group by 301.6% during the second quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider’s stock valued at $602,004,000 after buying an additional 8,159,175 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Interactive Brokers Group by 227.7% during the second quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider’s stock valued at $562,328,000 after buying an additional 7,051,682 shares during the period. 23.80% of the stock is owned by hedge funds and other institutional investors.

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.