Interactive Brokers Group (NASDAQ:IBKR) Upgraded by BMO Capital Markets to “Strong-Buy” Rating

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

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

Interactive Brokers Group Trading Down 0.8%

Shares of NASDAQ IBKR opened at $70.36 on Thursday. The firm has a market capitalization of $119.34 billion, a price-to-earnings ratio of 36.17, a price-to-earnings-growth ratio of 2.91 and a beta of 1.22. Interactive Brokers Group has a 12-month low of $32.82 and a 12-month high of $71.78. 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 posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 earnings per share. Sell-side analysts predict that Interactive Brokers Group will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, September 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group’s dividend payout ratio is currently 16.49%.

Insider Buying and Selling at Interactive Brokers Group

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $65.78, for a total value of $1,122,075.24. Following the sale, the chief financial officer owned 28,289 shares of the company’s stock, valued at approximately $1,860,850.42. This represents a 37.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,205,683 shares of company stock valued at $77,217,965 over the last quarter. Corporate insiders own 2.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC bought a new position in shares of Interactive Brokers Group in the first quarter worth about $26,000. ORG Partners LLC grew its holdings in Interactive Brokers Group by 312.9% during the 2nd quarter. ORG Partners LLC now owns 479 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 363 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Interactive Brokers Group by 51.8% in the 2nd quarter. Huntington National Bank now owns 516 shares of the financial services provider’s stock valued at $29,000 after buying an additional 176 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Interactive Brokers Group by 300.0% in the 2nd quarter. Contravisory Investment Management Inc. now owns 564 shares of the financial services provider’s stock valued at $31,000 after buying an additional 423 shares in the last quarter. Finally, Private Wealth Asset Management LLC boosted its holdings in shares of Interactive Brokers Group by 300.0% in the 2nd quarter. Private Wealth Asset Management LLC now owns 580 shares of the financial services provider’s stock valued at $32,000 after buying an additional 435 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Company Profile

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.