New York State Teachers Retirement System Increases Position in Interactive Brokers Group, Inc. $IBKR

Key Points

• New York State Teachers Retirement System increased its stake in Interactive Brokers Group by 4.1% in the first quarter, adding 11,479 shares and bringing its total holdings to 290,469 shares worth about $19.5 million.
• Interactive Brokers reported strong quarterly results, with EPS of $0.60 beating estimates by $0.03 and revenue rising 17% year over year to $1.68 billion.
• The company also raised its quarterly dividend to $0.0875 per share from $0.08, while analysts currently rate the stock a “Moderate Buy” with an average price target of $85.22.

New York State Teachers Retirement System lifted its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,469 shares of the financial services provider's stock after acquiring an additional 11,479 shares during the period. New York State Teachers Retirement System's holdings in Interactive Brokers Group were worth $19,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in Interactive Brokers Group during the 4th quarter valued at about $26,000. IMA Advisory Services Inc. raised its stake in shares of Interactive Brokers Group by 64.3% in the fourth quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider's stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Tobam purchased a new position in shares of Interactive Brokers Group in the fourth quarter worth about $30,000. Entrust Financial LLC acquired a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $31,000. Finally, SHP Wealth Management acquired a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock opened at $91.33 on Friday. The firm has a market cap of $154.93 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. Interactive Brokers Group, Inc. has a 52 week low of $56.33 and a 52 week high of $97.84. The business's 50-day moving average price is $86.64 and its 200 day moving average price is $76.40.

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

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were issued a dividend of $0.0875 per share. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. Interactive Brokers Group's payout ratio is presently 15.09%.

Insider Transactions at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director directly owned 173,482 shares of the company's stock, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company's stock.

Analyst Ratings Changes

IBKR has been the topic of several research reports. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a report on Friday, May 1st. Weiss Ratings cut shares of Interactive Brokers Group from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, June 29th. Barclays upped their price objective 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. BMO Capital Markets increased their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Wolfe Research initiated coverage on shares of Interactive Brokers Group in a report on Monday, June 8th. They set an "outperform" rating and a $101.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.22.

About Interactive Brokers Group

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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