Interactive Brokers Group (NASDAQ:IBKR) Hits New 52-Week High – Time to Buy?

Interactive Brokers Group, Inc. (NASDAQ:IBKR) shares reached a new 52-week high on Tuesday . The stock traded as high as $97.89 and last traded at $98.2960, with a volume of 2604169 shares traded. The stock had previously closed at $93.05.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Raymond James Financial started coverage on shares of Interactive Brokers Group in a report on Wednesday. They issued a “market perform” rating for the company. Wolfe Research started coverage on Interactive Brokers Group in a research note on Monday, June 8th. They set an “outperform” rating and a $101.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $110.00 target price (up from $105.00) on shares of Interactive Brokers Group in a report on Wednesday, July 22nd. Weiss Ratings raised Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Finally, Zacks Research raised Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.89.

Interactive Brokers Group Stock Performance

The stock has a 50-day moving average of $92.10 and a 200-day moving average of $82.31. The firm has a market cap of $165.29 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 1.81 and a beta of 1.34.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. Sell-side analysts predict that Interactive Brokers Group, Inc. will post 2.69 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be given a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Interactive Brokers Group’s payout ratio is currently 14.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IBKR. Leonteq Securities AG acquired a new stake in shares of Interactive Brokers Group in the fourth quarter valued at approximately $1,746,000. Covenant Asset Management LLC acquired a new stake in Interactive Brokers Group during the fourth quarter worth approximately $3,028,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Interactive Brokers Group by 5.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 932,381 shares of the financial services provider’s stock worth $62,684,000 after buying an additional 43,984 shares in the last quarter. North Dakota State Investment Board bought a new position in Interactive Brokers Group during the 4th quarter worth $945,000. Finally, Passumpsic Savings Bank bought a new position in Interactive Brokers Group during the 4th quarter worth $2,011,000. Institutional investors 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.