Formidable Asset Management LLC Buys 8,136 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Formidable Asset Management LLC increased its investment in Interactive Brokers Group by 158%, purchasing 8,136 additional shares, bringing their total to 13,284 shares valued at approximately $736,000.
• Interactive Brokers' stock received a "buy" rating from Citigroup with a price target raised to $60.00, while Piper Sandler and Barclays also increased their price targets, indicating strong interest from analysts.
• For the most recent quarter, Interactive Brokers reported earnings of $0.51 EPS, surpassing expectations, with a net margin of 9.78% and year-over-year revenue growth of 14.7%.

Formidable Asset Management LLC raised its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 158.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,284 shares of the financial services provider's stock after buying an additional 8,136 shares during the period. Formidable Asset Management LLC's holdings in Interactive Brokers Group were worth $736,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in Interactive Brokers Group during the first quarter valued at about $26,000. City Holding Co. bought a new position in Interactive Brokers Group during the first quarter valued at about $33,000. Nvwm LLC acquired a new stake in shares of Interactive Brokers Group in the first quarter valued at about $33,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of Interactive Brokers Group in the first quarter valued at about $33,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of Interactive Brokers Group in the first quarter valued at about $43,000. 23.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IBKR. Citigroup raised their price target on 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 raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Piper Sandler boosted their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays raised their price objective 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. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Performance

Shares of Interactive Brokers Group stock opened at $66.12 on Friday. The firm has a fifty day moving average of $63.74 and a two-hundred day moving average of $53.63. The stock has a market capitalization of $112.15 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 2.64 and a beta of 1.23. Interactive Brokers Group, Inc. has a 52 week low of $32.82 and a 52 week high of $68.07.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $0.51 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 company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the previous year, the company posted $1.76 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, September 1st were given a $0.08 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio is currently 16.49%.

Insider Activity at Interactive Brokers Group

In related news, CFO Paul Jonathan Brody sold 14,391 shares of the company's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $64.81, for a total value of $932,680.71. Following the completion of the transaction, the chief financial officer directly owned 59,643 shares of the company's stock, valued at approximately $3,865,462.83. This represents a 19.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 1,174,329 shares of company stock valued at $75,169,366. 2.97% of the stock is owned by corporate insiders.

Interactive Brokers Group Company 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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