24,811 Shares of Interactive Brokers Group, Inc. $IBKR Acquired by Covenant Asset Management LLC

Covenant Asset Management LLC acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,811 shares of the financial services provider’s stock, valued at approximately $2,119,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IBKR. Bamco Inc. NY raised its holdings in Interactive Brokers Group by 0.7% in the fourth quarter. Bamco Inc. NY now owns 4,643,376 shares of the financial services provider’s stock worth $298,616,000 after buying an additional 33,608 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Interactive Brokers Group by 156.0% in the first quarter. Bessemer Group Inc. now owns 3,922,736 shares of the financial services provider’s stock worth $263,097,000 after buying an additional 2,390,247 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Interactive Brokers Group in the second quarter worth approximately $210,639,000. Amundi lifted its stake in shares of Interactive Brokers Group by 62.4% in the first quarter. Amundi now owns 2,433,236 shares of the financial services provider’s stock worth $163,197,000 after buying an additional 934,843 shares in the last quarter. Finally, Progeny 3 Inc. grew its holdings in shares of Interactive Brokers Group by 3.1% during the first quarter. Progeny 3 Inc. now owns 2,195,640 shares of the financial services provider’s stock valued at $147,262,000 after buying an additional 65,880 shares during the last quarter. 23.80% of the stock is currently owned by institutional investors.

More Interactive Brokers Group News

Here are the key news stories impacting Interactive Brokers Group this week:

• Positive Sentiment: Analysts expect IBKR’s third-quarter results to benefit from robust customer trading, higher net interest income and continued client growth. However, rising operating expenses could limit earnings leverage. Increased Trading Activity, Higher NII Likely to Aid IBKR Q3 Earnings
• Positive Sentiment: The upcoming earnings report could exceed expectations if unusually active summer-market trading was not fully reflected in forecasts, providing a possible near-term upside catalyst. Interactive Brokers Group’s Next Earnings Report Tomorrow Could Send the Stock Soaring
• Positive Sentiment: IBKR launched cryptocurrency staking for eligible clients, expanding its digital-asset offering. The service, along with AI-enabled tools and global reach, could improve customer engagement and create additional revenue opportunities. Interactive Brokers Group Launches Cryptocurrency Staking
• Positive Sentiment: Evercore initiated coverage with an “outperform” rating and a $100 price target, implying meaningful upside from the referenced share price. IBKR was also included among fintech stocks positioned to benefit from digital payments, AI and expanding financial services. Evercore Initiates Coverage on Interactive Brokers Group
• Negative Sentiment: Investors may remain cautious because operating costs are increasing and the stock’s valuation leaves less room for disappointment. The recent pullback likely reflects elevated expectations ahead of earnings, despite broadly bullish analyst commentary.

Analyst Ratings Changes

Several brokerages recently weighed in on IBKR. CICC Research raised their price target on shares of Interactive Brokers Group from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. BMO Capital Markets decreased their price objective on shares of Interactive Brokers Group from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Piper Sandler set a $109.00 price objective on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Jefferies Financial Group upped their price objective on Interactive Brokers Group from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $111.00 target price on shares of Interactive Brokers Group in a research note on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Interactive Brokers Group presently has an average rating of “Moderate Buy” and an average price target of $103.18.

Interactive Brokers Group Stock Down 3.8%

IBKR opened at $84.14 on Thursday. The firm has a 50 day moving average price of $90.43 and a 200-day moving average price of $87.00. Interactive Brokers Group, Inc. has a twelve month low of $58.95 and a twelve month high of $98.75. The stock has a market capitalization of $143.16 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 1.55 and a beta of 1.37.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, analysts expect that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

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

Interactive Brokers Group Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.