Retirement Planning Co of New England Inc. Invests $1.17 Million in Interactive Brokers Group, Inc. $IBKR

Key Points

• Retirement Planning Co of New England Inc. recently acquired 7,050 shares of Interactive Brokers Group, Inc. (NASDAQ: IBKR), valued at approximately $1,167,000, during the 1st quarter.
• Multiple hedge funds, including Quarry LP and Stony Point Capital LLC, significantly increased their stakes in Interactive Brokers Group, highlighting increased institutional interest.
• Analysts have raised their price targets for IBKR, with Goldman Sachs and Citigroup setting new targets at $60.00, while Barclays increased theirs to $73.00, reflecting a positive outlook for the stock.

Retirement Planning Co of New England Inc. purchased a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,050 shares of the financial services provider's stock, valued at approximately $1,167,000.

Several other institutional investors and hedge funds have also bought and sold shares of IBKR. Private Advisor Group LLC boosted 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 worth $789,000 after acquiring an additional 3,038 shares during the period. Kennondale Capital Management LLC increased its holdings in shares of 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 worth $3,216,000 after buying an additional 12,299 shares during the period. Bayforest Capital Ltd increased its holdings in shares of 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 worth $641,000 after buying an additional 971 shares during the period. National Pension Service purchased a new position in shares of Interactive Brokers Group in the first quarter worth about $28,688,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Interactive Brokers Group by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 844,793 shares of the financial services provider's stock worth $139,889,000 after purchasing an additional 26,595 shares during the last quarter. 23.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman Earl H. Nemser sold 194,086 shares of Interactive Brokers Group stock in a transaction on 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 directly owned 461,500 shares in the company, valued at approximately $31,146,635. The trade was a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 233,972 shares of company stock valued at $15,746,449 in the last three months. 2.97% of the stock is owned by company insiders.

Interactive Brokers Group Stock Up 0.1%

IBKR stock traded up $0.05 during trading on Wednesday, hitting $63.95. 5,776,145 shares of the company's stock traded hands, compared to its average volume of 9,337,050. The firm has a market capitalization of $108.47 billion, a P/E ratio of 32.88, a PEG ratio of 2.54 and a beta of 1.23. The business has a fifty day simple moving average of $61.61 and a two-hundred day simple moving average of $52.12. Interactive Brokers Group, Inc. has a 1 year low of $30.01 and a 1 year high of $68.07.

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

Interactive Brokers Group Announces Dividend

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

Analysts Set New Price Targets

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

About Interactive Brokers Group

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.