Lord Abbett & CO. LLC Acquires Shares of 32,318 Interactive Brokers Group, Inc. $IBKR

Key Points

• Lord Abbett & CO. LLC purchased 32,318 shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR), valuing the investment at approximately $5.35 million.
• Analysts are optimistic about IBKR's stock, with Barclays raising its price target from $65.00 to $73.00 and several firms upgrading their ratings to "buy."
• The company announced a quarterly dividend of $0.08 per share, reflecting a 0.5% dividend yield and a payout ratio of 16.49%.

Lord Abbett & CO. LLC bought a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 32,318 shares of the financial services provider's stock, valued at approximately $5,352,000.

Several other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in shares of Interactive Brokers Group by 176.2% in the first quarter. Private Advisor Group LLC now owns 4,762 shares of the financial services provider's stock valued at $789,000 after purchasing an additional 3,038 shares during the last quarter. Kennondale Capital Management LLC grew its position in Interactive Brokers Group by 172.7% in the first quarter. Kennondale Capital Management LLC now owns 19,419 shares of the financial services provider's stock valued at $3,216,000 after purchasing an additional 12,299 shares in the last quarter. Bayforest Capital Ltd grew its position in Interactive Brokers Group by 33.5% in the first quarter. Bayforest Capital Ltd now owns 3,873 shares of the financial services provider's stock valued at $641,000 after purchasing an additional 971 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Interactive Brokers Group in the 1st quarter valued at $4,206,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Interactive Brokers Group by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 844,793 shares of the financial services provider's stock worth $139,889,000 after buying an additional 26,595 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on IBKR shares. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays increased their price objective on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. The Goldman Sachs Group raised their target price on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Piper Sandler upped their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Citigroup lifted their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.38.

Interactive Brokers Group Stock Performance

Shares of IBKR stock traded up $0.0070 during midday trading on Thursday, hitting $62.4670. 1,621,814 shares of the company were exchanged, compared to its average volume of 7,061,774. Interactive Brokers Group, Inc. has a 52 week low of $30.01 and a 52 week high of $68.07. The firm has a market capitalization of $105.95 billion, a P/E ratio of 32.12, a PEG ratio of 2.54 and a beta of 1.22. The firm's 50 day moving average price is $59.64 and its two-hundred day moving average price is $51.81.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business earned $1.76 EPS. The company's quarterly revenue was up 14.7% compared to the same quarter last year. Analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, September 1st will be given a $0.08 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is presently 16.49%.

Insider Buying and Selling

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total transaction of $13,098,864.14. Following the completion of the sale, the insider owned 461,500 shares of the company's stock, valued at $31,146,635. This represents a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 233,972 shares of company stock valued at $15,746,449 over the last three months. 2.97% of the stock is owned by insiders.

Interactive Brokers Group 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.