BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Makes New Investment in Interactive Brokers Group, Inc. $IBKR

Key Points

• British Columbia Investment Management Corp purchased 20,822 shares of Interactive Brokers Group, Inc., worth approximately $3.45 million, during the first quarter.
• Analysts have a positive outlook on Interactive Brokers, with several firms raising their target price, including Goldman Sachs and Barclays, both giving "buy" or "overweight" ratings.
• Interactive Brokers recently announced a quarterly dividend of $0.08 per share, indicating a payout ratio of 16.49%, with a dividend yield of 0.5%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,822 shares of the financial services provider's stock, valued at approximately $3,448,000.

Other institutional investors have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Interactive Brokers Group during the 1st quarter valued at about $26,000. Bellwether Advisors LLC acquired a new stake in shares of Interactive Brokers Group during the 4th quarter valued at about $35,000. City Holding Co. acquired a new stake in shares of Interactive Brokers Group during the 1st quarter valued at about $33,000. Nvwm LLC acquired a new stake in shares of Interactive Brokers Group during the 1st quarter valued at about $33,000. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Interactive Brokers Group during the 1st quarter valued at about $33,000. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider directly owned 461,500 shares of the company's stock, valued at approximately $31,146,635. The trade was a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 233,972 shares of company stock valued at $15,746,449 over the last ninety days. Insiders own 2.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IBKR shares. The Goldman Sachs Group lifted 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 report on Thursday, May 15th. Citigroup lifted their target price 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. Wall Street Zen upgraded shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays lifted their target price on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Finally, Piper Sandler lifted their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Interactive Brokers Group currently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Up 0.6%

Shares of IBKR stock opened at $62.76 on Tuesday. Interactive Brokers Group, Inc. has a 12-month low of $30.01 and a 12-month high of $68.07. The company has a market capitalization of $106.45 billion, a P/E ratio of 32.27, a P/E/G ratio of 2.54 and a beta of 1.22. The firm has a 50-day moving average price of $60.30 and a 200 day moving average price of $51.85.

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

Interactive Brokers Group Announces Dividend

The business 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. The ex-dividend date of this dividend 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 payout ratio is currently 16.49%.

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.

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