Mutual of America Capital Management LLC Reduces Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Mutual of America Capital Management LLC decreased its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 2.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 56,038 shares of the financial services provider’s stock after selling 1,476 shares during the period. Mutual of America Capital Management LLC’s holdings in Interactive Brokers Group were worth $9,279,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SteelPeak Wealth LLC raised its holdings in shares of Interactive Brokers Group by 126.7% in the 1st quarter. SteelPeak Wealth LLC now owns 9,297 shares of the financial services provider’s stock valued at $1,540,000 after acquiring an additional 5,196 shares in the last quarter. Xponance Inc. raised its holdings in shares of Interactive Brokers Group by 43.2% in the 1st quarter. Xponance Inc. now owns 18,225 shares of the financial services provider’s stock valued at $3,018,000 after acquiring an additional 5,494 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Interactive Brokers Group by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 26,079 shares of the financial services provider’s stock valued at $4,318,000 after acquiring an additional 300 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Interactive Brokers Group by 19.4% in the 1st quarter. Allworth Financial LP now owns 1,646 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 268 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. raised its holdings in shares of Interactive Brokers Group by 28.2% in the 1st quarter. Blackhawk Capital Partners LLC. now owns 12,308 shares of the financial services provider’s stock valued at $2,038,000 after acquiring an additional 2,705 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

IBKR opened at $59.63 on Wednesday. The stock’s 50 day simple moving average is $52.93 and its 200 day simple moving average is $49.05. Interactive Brokers Group, Inc. has a 1 year low of $25.92 and a 1 year high of $60.35. The firm has a market cap of $100.80 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.75 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Interactive Brokers Group had a return on equity of 4.97% and a net margin of 9.53%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.37 billion. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Interactive Brokers Group from $53.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Piper Sandler raised their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America decreased their price objective on Interactive Brokers Group from $66.25 to $60.75 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Citigroup raised their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, Wall Street Zen raised Interactive Brokers Group from a “sell” rating to a “hold” rating in a report on Saturday, June 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.38.

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.