Jupiter Asset Management Ltd. Makes New Investment in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Jupiter Asset Management Ltd. acquired a new stake in Interactive Brokers Group, purchasing 239,000 shares valued at approximately $39.6 million during the 1st quarter.
• Bank of America and GAMMA Investing made significant increases to their positions, with Bank of America lifting its stake by 91.4% and GAMMA by 22,211.1%.
• Analysts have a consensus rating of "Moderate Buy" for Interactive Brokers, with price targets ranging from $45.50 to $73.00 from various firms.

Jupiter Asset Management Ltd. bought a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 239,000 shares of the financial services provider's stock, valued at approximately $39,576,000. Jupiter Asset Management Ltd. owned approximately 0.06% of Interactive Brokers Group as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IBKR. Natixis Advisors LLC lifted its holdings in shares of Interactive Brokers Group by 11.0% in the 1st quarter. Natixis Advisors LLC now owns 23,532 shares of the financial services provider's stock valued at $3,897,000 after purchasing an additional 2,329 shares during the last quarter. Bayforest Capital Ltd grew its position in shares of Interactive Brokers Group by 33.5% during the first quarter. Bayforest Capital Ltd now owns 3,873 shares of the financial services provider's stock worth $641,000 after acquiring an additional 971 shares during the last quarter. XTX Topco Ltd grew its position in shares of Interactive Brokers Group by 50.4% during the first quarter. XTX Topco Ltd now owns 25,703 shares of the financial services provider's stock worth $4,256,000 after acquiring an additional 8,608 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Interactive Brokers Group by 16.2% during the first quarter. GSA Capital Partners LLP now owns 5,914 shares of the financial services provider's stock worth $979,000 after acquiring an additional 825 shares during the last quarter. Finally, Cozad Asset Management Inc. grew its position in shares of Interactive Brokers Group by 4.3% during the first quarter. Cozad Asset Management Inc. now owns 51,430 shares of the financial services provider's stock worth $8,516,000 after acquiring an additional 2,143 shares during the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Interactive Brokers Group Stock Performance

IBKR traded up $0.12 on Wednesday, reaching $63.83. 2,196,402 shares of the company's stock were exchanged, compared to its average volume of 7,281,996. The company's 50 day moving average is $56.91 and its 200-day moving average is $50.87. The company has a market cap of $107.90 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 2.68 and a beta of 1.22. Interactive Brokers Group, Inc. has a twelve month low of $28.05 and a twelve month high of $66.82.

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

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio (DPR) is currently 16.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Bank of America lowered their price objective on shares of Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler lifted their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Barclays increased their target price on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Citigroup upped their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.38.

Insider Buying and Selling at Interactive Brokers Group

In other news, Vice Chairman Earl H. Nemser sold 39,786 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $66.38, for a total transaction of $2,640,994.68. Following the completion of the sale, the insider directly owned 360,114 shares in the company, valued at $23,904,367.32. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.