Cibc World Market Inc. Acquires 80,803 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Cibc World Market Inc. boosted its stake in Interactive Brokers Group by 137.8% in the fourth quarter, buying 80,803 additional shares for a total of 139,435 shares valued at about $8.97 million.
• Institutional interest remains strong in IBKR, with firms like Vanguard, Norges Bank, State Street, and others also increasing or initiating positions; institutions now own 23.8% of the company.
• Analysts are generally bullish on the stock, with seven Buy ratings and three Hold ratings, an average “Moderate Buy” view, and an average price target of $83.25.

Cibc World Market Inc. lifted its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 137.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,435 shares of the financial services provider's stock after acquiring an additional 80,803 shares during the period. Cibc World Market Inc.'s holdings in Interactive Brokers Group were worth $8,967,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in IBKR. Vanguard Group Inc. lifted its holdings in shares of Interactive Brokers Group by 26.4% in the 3rd quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock valued at $3,637,234,000 after acquiring an additional 11,048,679 shares during the last quarter. Norges Bank bought a new position in shares of Interactive Brokers Group in the 4th quarter valued at about $453,146,000. Orbis Allan Gray Ltd lifted its holdings in shares of Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock valued at $539,697,000 after acquiring an additional 6,246,715 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Interactive Brokers Group by 225.4% in the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock valued at $420,834,000 after acquiring an additional 5,260,923 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Interactive Brokers Group by 23.2% in the 3rd 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. Institutional investors own 23.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Barclays increased their price target on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a report on Friday, May 1st. Zacks Research downgraded shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average 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 dated Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the sale, the director directly owned 173,482 shares of the company's stock, valued at $13,345,970.26. This represents a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $84.40 on Friday. Interactive Brokers Group, Inc. has a 1-year low of $49.15 and a 1-year high of $91.02. The firm has a market capitalization of $143.17 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.32. The company's 50-day moving average is $79.02 and its 200 day moving average is $72.58.

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

Interactive Brokers Group Increases Dividend

The company 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. This is an increase from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio is currently 15.09%.

Interactive Brokers Group Company 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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