AXQ Capital LP Increases Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• AXQ Capital LP boosted its stake in Interactive Brokers Group by 69.7% in the fourth quarter, bringing its holdings to 38,416 shares valued at about $2.47 million.
• Interactive Brokers reported better-than-expected quarterly EPS of $0.60 on revenue of $1.68 billion, with revenue up 17% year over year. The company also raised its quarterly dividend to $0.0875 per share.
• Analysts remain generally positive on IBKR, with several raising price targets and the stock carrying a Moderate Buy consensus rating and average target price of $83.25, while shares recently traded near $88.69.

AXQ Capital LP lifted its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 69.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,416 shares of the financial services provider's stock after buying an additional 15,782 shares during the period. Interactive Brokers Group makes up approximately 0.6% of AXQ Capital LP's portfolio, making the stock its 14th biggest holding. AXQ Capital LP's holdings in Interactive Brokers Group were worth $2,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in shares of Interactive Brokers Group by 24.7% in the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider's stock worth $2,269,000 after purchasing an additional 2,713 shares during the period. Brown Advisory Inc. lifted its holdings in Interactive Brokers Group by 307.9% in the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider's stock worth $803,000 after buying an additional 10,943 shares during the period. Cerity Partners LLC purchased a new stake in Interactive Brokers Group in the second quarter worth about $318,000. Daiwa Securities Group Inc. increased its stake in shares of Interactive Brokers Group by 291.2% during the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider's stock valued at $1,973,000 after purchasing an additional 26,500 shares in the last quarter. Finally, AXA S.A. increased its position in shares of Interactive Brokers Group by 128.1% during the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider's stock valued at $710,000 after acquiring an additional 7,197 shares in the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares of the company's stock, valued at approximately $13,345,970.26. This trade represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on IBKR shares. Barclays lifted their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research note on Friday, May 1st. Piper Sandler lifted their target price on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Jefferies Financial Group reduced their price target on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Finally, Keefe, Bruyette & Woods started coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.25.

Interactive Brokers Group Stock Up 2.0%

Shares of IBKR opened at $88.69 on Tuesday. Interactive Brokers Group, Inc. has a twelve month low of $49.15 and a twelve month high of $91.02. The company has a market cap of $150.45 billion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.40 and a beta of 1.32. The company has a 50 day moving average of $77.44 and a two-hundred day moving average of $72.10.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. Interactive Brokers Group's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 EPS. On average, sell-side analysts expect 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 will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.0875 per share. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change 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 payout ratio is 13.79%.

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.

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