Bank of New York Mellon Corp Grows Stock Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• Bank of New York Mellon boosted its stake in Interactive Brokers Group by 2.0% in the fourth quarter, adding 49,401 shares and bringing its total holding to 2,530,644 shares valued at about $162.7 million.
• Interactive Brokers reported better-than-expected quarterly earnings of $0.60 per share, topping estimates by $0.03, while revenue rose 17% year over year to $1.68 billion.
• The company raised its quarterly dividend to $0.0875 per share from $0.08, and Wall Street currently has a consensus Moderate Buy rating with an average price target of $83.25.

Bank of New York Mellon Corp increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,530,644 shares of the financial services provider's stock after buying an additional 49,401 shares during the quarter. Bank of New York Mellon Corp owned about 0.15% of Interactive Brokers Group worth $162,746,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IBKR shares. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a report on Friday, May 1st. Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a "market perform" rating and a $75.00 target price on the stock. Piper Sandler raised their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Barclays raised their target price on Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Finally, Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.25.

Interactive Brokers Group Price Performance

NASDAQ:IBKR opened at $84.40 on Friday. Interactive Brokers Group, Inc. has a 12-month low of $49.15 and a 12-month high of $91.02. The firm has a market capitalization of $143.17 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.41 and a beta of 1.32. The business has a 50 day simple moving average of $79.02 and a 200 day simple moving average of $72.58.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Research analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be given a dividend of $0.0875 per share. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date is Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group's payout ratio is presently 15.09%.

Insider Transactions at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the business's stock in a transaction 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 sale, the director owned 173,482 shares of the company's stock, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company's stock.

Interactive Brokers Group Company Profile

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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