Milford Funds Ltd. Invests $26.80 Million in Interactive Brokers Group, Inc. $IBKR

Milford Funds Ltd. acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 416,730 shares of the financial services provider’s stock, valued at approximately $26,800,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IBKR. Vanguard Group Inc. grew its holdings in shares of Interactive Brokers Group by 26.4% during the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider’s stock worth $3,637,234,000 after purchasing an additional 11,048,679 shares in the last quarter. Norges Bank purchased a new position in shares of Interactive Brokers Group during the fourth quarter worth about $453,146,000. Orbis Allan Gray Ltd grew its holdings in shares of 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 purchasing an additional 6,246,715 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 5,260,923 shares in the last quarter. Finally, State Street Corp lifted its position in Interactive Brokers Group by 23.2% in the 3rd quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock worth $1,283,221,000 after buying an additional 3,517,729 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

NASDAQ:IBKR opened at $90.81 on Friday. The business has a 50 day moving average of $81.21 and a 200 day moving average of $73.46. The company has a market capitalization of $154.05 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.45 and a beta of 1.32. Interactive Brokers Group, Inc. has a 1-year low of $49.30 and a 1-year high of $93.10.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the company posted $1.94 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

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

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IBKR shares. Zacks Research downgraded Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a “market perform” rating and a $75.00 target price for the company. Wolfe Research started coverage on Interactive Brokers Group in a research report on Monday. They issued an “outperform” rating and a $101.00 target price for the company. Jefferies Financial Group dropped their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Piper Sandler boosted their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Interactive Brokers Group presently has an average rating of “Moderate Buy” and an average target price of $85.22.

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.