Interactive Brokers Group (NASDAQ:IBKR) Given New $243.00 Price Target at Bank of America

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) had its target price cut by analysts at Bank of America from $265.00 to $243.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Bank of America's price objective indicates a potential upside of 57.19% from the company's current price.

Several other equities analysts also recently weighed in on the company. Piper Sandler lowered their target price on Interactive Brokers Group from $210.00 to $192.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their price objective on shares of Interactive Brokers Group from $242.00 to $215.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Barclays decreased their price target on Interactive Brokers Group from $231.00 to $188.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. StockNews.com raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Thursday, April 10th. Finally, UBS Group upped their target price on shares of Interactive Brokers Group from $225.00 to $265.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $207.88.

Interactive Brokers Group Price Performance

NASDAQ IBKR traded down $4.93 during trading hours on Wednesday, hitting $154.59. The company's stock had a trading volume of 676,803 shares, compared to its average volume of 1,344,848. The company has a market cap of $65.33 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02. The company's 50 day simple moving average is $183.78 and its two-hundred day simple moving average is $181.81. Interactive Brokers Group has a 12 month low of $103.69 and a 12 month high of $236.53.

Interactive Brokers Group's stock is going to split on Wednesday, June 18th. The 4-1 split was announced on Tuesday, April 15th. The newly issued shares will be issued to shareholders after the closing bell on Tuesday, June 17th.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $1.88 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.04). The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. As a group, research analysts predict that Interactive Brokers Group will post 7.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jill Bright bought 135 shares of the company's stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $219.51 per share, for a total transaction of $29,633.85. Following the acquisition, the director now owns 2,476 shares in the company, valued at $543,506.76. This trade represents a 5.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.99% of the stock is currently owned by insiders.

Institutional Trading of Interactive Brokers Group

Institutional investors have recently bought and sold shares of the stock. Contravisory Investment Management Inc. bought a new position in Interactive Brokers Group during the 4th quarter valued at about $25,000. SRH Advisors LLC bought a new position in Interactive Brokers Group in the 4th quarter valued at $28,000. Versant Capital Management Inc lifted its position in shares of Interactive Brokers Group by 66.4% during the fourth quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider's stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Interactive Brokers Group by 90.7% during the fourth quarter. Blue Trust Inc. now owns 185 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 88 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in Interactive Brokers Group in the 4th quarter worth about $33,000. 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.