California State Teachers Retirement System Purchases 53,079,364 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• California State Teachers Retirement System increased its Interactive Brokers Group stake by 8,229%, buying 53.1 million additional shares to own 53.7 million shares, or 3.16% of the company, valued at approximately $4.68 billion.
• Interactive Brokers reported stronger-than-expected quarterly results, with EPS of $0.69 versus a $0.64 estimate and revenue of $1.88 billion, up 28.1% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $98.90; shares recently traded at $90.28.

California State Teachers Retirement System raised its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 8,229.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,724,396 shares of the financial services provider's stock after purchasing an additional 53,079,364 shares during the quarter. California State Teachers Retirement System owned 3.16% of Interactive Brokers Group worth $4,676,171,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IBKR. Wedmont Private Capital lifted its stake in shares of Interactive Brokers Group by 9.9% in the second quarter. Wedmont Private Capital now owns 8,125 shares of the financial services provider's stock worth $764,000 after buying an additional 735 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Interactive Brokers Group by 5.7% during the second quarter. HB Wealth Management LLC now owns 13,075 shares of the financial services provider's stock valued at $1,138,000 after acquiring an additional 702 shares in the last quarter. Saudi Central Bank raised its holdings in Interactive Brokers Group by 80.2% in the 2nd quarter. Saudi Central Bank now owns 29,621 shares of the financial services provider's stock worth $2,578,000 after acquiring an additional 13,182 shares during the last quarter. Compass Financial Management LLC bought a new position in Interactive Brokers Group in the 2nd quarter valued at approximately $612,000. Finally, AlphaGrep UK Ltd bought a new position in Interactive Brokers Group in the 2nd quarter valued at approximately $391,000. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Trading Down 0.8%

Shares of IBKR stock opened at $90.28 on Thursday. Interactive Brokers Group, Inc. has a 12-month low of $58.95 and a 12-month high of $98.75. The firm's 50 day moving average is $92.14 and its 200 day moving average is $83.56. The stock has a market capitalization of $153.60 billion, a P/E ratio of 36.11, a P/E/G ratio of 1.68 and a beta of 1.35.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.80 billion. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The firm's revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, equities analysts predict that Interactive Brokers Group, Inc. will post 2.68 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on IBKR. UBS Group lowered Interactive Brokers Group from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $50.00 to $102.00 in a report on Tuesday, September 1st. Weiss Ratings raised Interactive Brokers Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Barclays set a $114.00 price objective on Interactive Brokers Group and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Piper Sandler set a $109.00 price objective on Interactive Brokers Group in a report on Wednesday, July 22nd. Finally, Wolfe Research began coverage on Interactive Brokers Group in a research report on Monday, June 8th. They issued an "outperform" rating and a $101.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.90.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and related financial services to individual investors, financial professionals, hedge funds, proprietary trading groups and other institutional clients. Through its online platforms, the company offers access to stocks, options, futures, foreign exchange, bonds, mutual funds, exchange-traded funds and other investment products.

The company operates a technology-focused brokerage platform designed to provide access to multiple markets and asset classes from a single account.

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