Bank of New York Mellon Corp Invests $210.64 Million in Interactive Brokers Group, Inc. $IBKR

Key Points

• Bank of New York Mellon acquired 2.42 million Interactive Brokers shares worth approximately $210.64 million, while other institutional investors also increased their holdings. Institutional investors collectively owned 23.8% of the company.
• Interactive Brokers exceeded quarterly expectations, reporting $0.69 in EPS versus a $0.64 estimate and $1.88 billion in revenue, up 28.1% year over year.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $96.89 price target. The company also declared a quarterly dividend of $0.0875 per share, equivalent to a 0.4% annual yield.

Bank of New York Mellon Corp acquired a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,420,031 shares of the financial services provider's stock, valued at approximately $210,639,000. Bank of New York Mellon Corp owned approximately 0.14% of Interactive Brokers Group at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in Interactive Brokers Group during the 4th quarter valued at $453,146,000. Orbis Allan Gray Ltd lifted its holdings in Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock worth $539,697,000 after acquiring an additional 6,246,715 shares during the period. Bank of America Corp DE raised its stake in shares of Interactive Brokers Group by 225.4% during the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock worth $420,834,000 after purchasing an additional 5,260,923 shares during the period. State Street Corp boosted its stake in Interactive Brokers Group by 23.2% in the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider's stock valued at $1,283,221,000 after acquiring an additional 3,517,729 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Interactive Brokers Group by 44.1% in the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider's stock valued at $533,026,000 after purchasing an additional 2,534,772 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $93.87 on Friday. The firm has a market cap of $159.71 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 1.73 and a beta of 1.34. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $97.84. The firm has a 50 day moving average price of $91.96 and a 200-day moving average price of $81.77.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The company's quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. As a group, equities research analysts predict that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, September 1st will be given a $0.0875 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's payout ratio is presently 14.00%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wolfe Research began coverage on shares of Interactive Brokers Group in a report on Monday, June 8th. They set an "outperform" rating and a $101.00 price objective on the stock. Zacks Research upgraded shares of Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Piper Sandler set a $109.00 price objective on shares of Interactive Brokers Group in a research note on Wednesday, July 22nd. China Renaissance began coverage on shares of Interactive Brokers Group in a report on Tuesday, July 7th. They set a "hold" rating on the stock. Finally, Bank of America increased their target price on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group has an average rating of "Moderate Buy" and an average price target of $96.89.

Interactive Brokers Group 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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