CIBC Asset Management Inc Increases Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• CIBC Asset Management boosted its stake in Interactive Brokers Group by 88.5% in the fourth quarter, adding 49,048 shares to reach 104,463 shares valued at about $6.7 million.
• Other institutional investors also increased holdings, and 23.8% of the stock is owned by hedge funds and other institutions. Analysts currently rate IBKR a Moderate Buy with an average price target of $83.25.
• Interactive Brokers reported Q1 earnings of $0.60 per share, topping estimates, and raised its quarterly dividend to $0.0875 per share. The stock was trading at $84.40 and had a 52-week range of $49.15 to $91.02.

CIBC Asset Management Inc increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 88.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,463 shares of the financial services provider's stock after buying an additional 49,048 shares during the quarter. CIBC Asset Management Inc's holdings in Interactive Brokers Group were worth $6,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IBKR. Bank of New York Mellon Corp grew its stake in Interactive Brokers Group by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,530,644 shares of the financial services provider's stock valued at $162,746,000 after purchasing an additional 49,401 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Interactive Brokers Group by 54.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,518,858 shares of the financial services provider's stock valued at $161,988,000 after purchasing an additional 886,372 shares during the last quarter. AXQ Capital LP grew its stake in Interactive Brokers Group by 69.7% during the 4th quarter. AXQ Capital LP now owns 38,416 shares of the financial services provider's stock valued at $2,471,000 after purchasing an additional 15,782 shares during the last quarter. New Mexico Educational Retirement Board grew its stake in Interactive Brokers Group by 2.5% during the 4th quarter. New Mexico Educational Retirement Board now owns 20,300 shares of the financial services provider's stock valued at $1,305,000 after purchasing an additional 500 shares during the last quarter. Finally, Florida Financial Advisors LLC grew its stake in Interactive Brokers Group by 22.3% during the 4th quarter. Florida Financial Advisors LLC now owns 25,564 shares of the financial services provider's stock valued at $1,642,000 after purchasing an additional 4,664 shares during the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Keefe, Bruyette & Woods assumed coverage on Interactive Brokers Group in a research note on Wednesday, April 8th. They set a "market perform" rating and a $75.00 price target on the stock. Jefferies Financial Group dropped their price target on Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Piper Sandler boosted their price target on Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $98.00 price target on Interactive Brokers Group in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Interactive Brokers Group presently has a consensus rating of "Moderate Buy" and an average target price of $83.25.

Insiders Place Their Bets

In related news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company's stock.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock opened at $84.40 on Friday. The firm has a market capitalization of $143.17 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.41 and a beta of 1.32. Interactive Brokers Group, Inc. has a fifty-two week low of $49.15 and a fifty-two week high of $91.02. The stock has a 50 day moving average of $79.02 and a 200 day moving average of $72.58.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 earnings per share. Analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be given a $0.0875 dividend. The ex-dividend date is Monday, June 1st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio (DPR) is currently 15.09%.

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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