Kennondale Capital Management LLC Increases Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Kennondale Capital Management LLC increased its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 172.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,419 shares of the financial services provider's stock after acquiring an additional 12,299 shares during the quarter. Interactive Brokers Group accounts for approximately 3.5% of Kennondale Capital Management LLC's portfolio, making the stock its 2nd largest position. Kennondale Capital Management LLC's holdings in Interactive Brokers Group were worth $3,216,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IBKR. Wellington Management Group LLP boosted its holdings in Interactive Brokers Group by 8,249.3% during the 4th quarter. Wellington Management Group LLP now owns 1,494,029 shares of the financial services provider's stock worth $263,950,000 after acquiring an additional 1,476,135 shares during the last quarter. Norges Bank purchased a new position in Interactive Brokers Group during the 4th quarter worth $229,316,000. Bank of America Corp DE boosted its holdings in Interactive Brokers Group by 91.4% during the 4th quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock worth $413,226,000 after acquiring an additional 1,117,186 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Interactive Brokers Group by 22,211.1% during the 1st quarter. GAMMA Investing LLC now owns 423,910 shares of the financial services provider's stock worth $701,950,000 after acquiring an additional 422,010 shares during the last quarter. Finally, Fullerton Fund Management Co Ltd. purchased a new position in Interactive Brokers Group during the 4th quarter worth $69,057,000. Institutional investors own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Bank of America cut 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 report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler boosted their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Citigroup boosted their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Two research 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, Interactive Brokers Group presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Trading Up 2.2%

Shares of NASDAQ:IBKR traded up $1.41 during midday trading on Thursday, reaching $64.73. The company had a trading volume of 4,770,513 shares, compared to its average volume of 7,464,655. Interactive Brokers Group, Inc. has a 52-week low of $25.92 and a 52-week high of $65.74. The company's 50 day moving average price is $54.33 and its 200 day moving average price is $49.63. The stock has a market cap of $109.43 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.57 and a beta of 1.25.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%. 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 business posted $1.76 EPS. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

About Interactive Brokers Group

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.