Interactive Brokers Group (NASDAQ:IBKR) Upgraded by Zacks Research to “Strong-Buy” Rating

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

A number of other equities analysts have also weighed in on IBKR. Bank of America upped their target price on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group cut their price target 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. Weiss Ratings raised Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, China Renaissance began coverage on Interactive Brokers Group in a report on Tuesday, July 7th. They set a “hold” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.89.

Interactive Brokers Group Stock Down 5.3%

Interactive Brokers Group stock opened at $92.21 on Wednesday. The stock has a market capitalization of $156.42 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 2.26 and a beta of 1.33. Interactive Brokers Group has a twelve month low of $58.80 and a twelve month high of $97.84. The company has a 50 day moving average of $89.31 and a 200-day moving average of $78.40.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities analysts anticipate that Interactive Brokers Group will post 2.51 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio is 15.09%.

Insider Activity

In related news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director owned 173,482 shares in the company, 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 is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBKR. Norges Bank acquired a new stake in shares of Interactive Brokers Group in the 4th quarter valued at approximately $453,146,000. Orbis Allan Gray Ltd increased its holdings in Interactive Brokers Group by 178.8% during 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. Bank of America Corp DE increased its holdings in Interactive Brokers Group by 225.4% during the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock worth $420,834,000 after buying an additional 5,260,923 shares during the last quarter. State Street Corp raised its position in Interactive Brokers Group by 23.2% during the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock worth $1,283,221,000 after acquiring an additional 3,517,729 shares in the last quarter. Finally, Invesco Ltd. raised its position in Interactive Brokers Group by 44.1% during the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock worth $533,026,000 after acquiring an additional 2,534,772 shares in the last quarter. 23.80% of the stock is owned by institutional investors and hedge funds.

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.