Cetera Investment Advisers Grows Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• Cetera Investment Advisers increased its Interactive Brokers Group stake by 30.1% in the first quarter, bringing its holdings to 209,311 shares valued at approximately $14.0 million. Institutional investors collectively own 23.8% of the company.
• Interactive Brokers reported quarterly EPS of $0.69, beating estimates of $0.64, while revenue rose 28.1% year over year to $1.88 billion. Analysts expect full-year EPS of approximately $2.69.
• The company declared a quarterly dividend of $0.0875, equivalent to $0.35 annually and a 0.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $96.89.

Cetera Investment Advisers boosted its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 30.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 209,311 shares of the financial services provider's stock after purchasing an additional 48,443 shares during the period. Cetera Investment Advisers' holdings in Interactive Brokers Group were worth $14,038,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Covenant Asset Management LLC bought a new position in shares of Interactive Brokers Group in the fourth quarter valued at approximately $3,028,000. Leonteq Securities AG purchased a new stake in Interactive Brokers Group in the 4th quarter worth approximately $1,746,000. OFI Invest Asset Management purchased a new stake in Interactive Brokers Group in the 4th quarter worth approximately $22,356,000. Successful Portfolios LLC bought a new position in Interactive Brokers Group in the 4th quarter valued at $1,431,000. Finally, North Dakota State Investment Board bought a new position in Interactive Brokers Group in the 4th quarter valued at $945,000. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $90.91 on Wednesday. The firm has a market cap of $154.22 billion, a P/E ratio of 36.36, a P/E/G ratio of 2.00 and a beta of 1.33. Interactive Brokers Group, Inc. has a 1 year low of $58.95 and a 1 year high of $97.84. The stock has a 50 day simple moving average of $90.37 and a two-hundred day simple moving average of $79.77.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.80 billion. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The business's quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. On average, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be paid a $0.0875 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Interactive Brokers Group's payout ratio is 14.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. China Renaissance initiated coverage on shares of Interactive Brokers Group in a report on Tuesday, July 7th. They issued a "hold" rating on the stock. Weiss Ratings upgraded Interactive Brokers Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Wolfe Research started coverage on Interactive Brokers Group in a research report on Monday, June 8th. They set an "outperform" rating and a $101.00 price target for the company. The Goldman Sachs Group set a $98.00 price objective on Interactive Brokers Group in a report on Friday, May 1st. Finally, Jefferies Financial Group dropped their target price on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.89.

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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