LPL Financial LLC Buys 18,148 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• LPL Financial LLC increased its stake in Interactive Brokers Group by 12.0%, holding $28.05 million worth of shares as of the latest SEC filing.
• Interactive Brokers reported earnings of $0.51 per share, beating analyst estimates and achieving a 14.7% year-over-year revenue increase.
• Analyst ratings for the stock show two hold ratings and seven buy ratings, with an average target price of $59.38.

LPL Financial LLC increased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,420 shares of the financial services provider's stock after buying an additional 18,148 shares during the quarter. LPL Financial LLC's holdings in Interactive Brokers Group were worth $28,054,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IBKR. TD Asset Management Inc boosted its holdings in Interactive Brokers Group by 35.2% during the first quarter. TD Asset Management Inc now owns 25,350 shares of the financial services provider's stock worth $4,198,000 after buying an additional 6,601 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Interactive Brokers Group by 18.0% during the first quarter. HB Wealth Management LLC now owns 2,220 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 339 shares during the period. Nvwm LLC acquired a new stake in Interactive Brokers Group during the 1st quarter valued at $33,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Interactive Brokers Group during the 1st quarter worth about $3,875,000. Finally, Avantax Advisory Services Inc. increased its stake in Interactive Brokers Group by 10.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,165 shares of the financial services provider's stock valued at $1,021,000 after buying an additional 584 shares during the period. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

Shares of IBKR stock traded up $0.23 during trading hours on Thursday, reaching $64.05. The company had a trading volume of 1,706,091 shares, compared to its average volume of 7,251,739. The firm has a market cap of $108.28 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 2.60 and a beta of 1.22. The company has a 50 day moving average of $57.13 and a 200 day moving average of $50.96. Interactive Brokers Group, Inc. has a 1-year low of $28.40 and a 1-year high of $66.82.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. As a group, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

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

Insider Buying and Selling

In other news, Vice Chairman Earl H. Nemser sold 39,786 shares of the business's stock in a transaction that occurred on 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 owned 360,114 shares in the company, valued at $23,904,367.32. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IBKR shares. Citigroup boosted their price target on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Wall Street Zen raised shares of Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Barclays upped 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. Piper Sandler upped their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group upped their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Interactive Brokers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group 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.