North Dakota State Investment Board Invests $945,000 in Interactive Brokers Group, Inc. $IBKR

Key Points

• North Dakota State Investment Board opened a new position in Interactive Brokers Group in Q4, buying 14,692 shares valued at about $945,000.
• The article notes that institutional investors remain active in IBKR, with Vanguard, State Street, Orbis Allan Gray, Bank of America DE, and TD Asset Management all boosting stakes.
• Interactive Brokers reported better-than-expected quarterly EPS of $0.60 and raised its quarterly dividend to $0.0875 per share, while analysts currently rate the stock a Moderate Buy.

North Dakota State Investment Board acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,692 shares of the financial services provider's stock, valued at approximately $945,000.

A number of other institutional investors also recently made changes to their positions in IBKR. Vanguard Group Inc. boosted its holdings in shares of Interactive Brokers Group by 26.4% during the third quarter. Vanguard Group Inc. now owns 52,859,085 shares of the financial services provider's stock worth $3,637,234,000 after acquiring an additional 11,048,679 shares during the period. Orbis Allan Gray Ltd boosted its holdings in shares of Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock worth $539,697,000 after acquiring an additional 6,246,715 shares during the period. Bank of America Corp DE boosted its holdings in shares of Interactive Brokers Group by 225.4% during the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock worth $420,834,000 after acquiring an additional 5,260,923 shares during the period. State Street Corp raised its position in shares of Interactive Brokers Group by 23.2% in the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider's stock valued at $1,283,221,000 after buying an additional 3,517,729 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Interactive Brokers Group by 2,098.6% in the third quarter. TD Asset Management Inc now owns 2,300,711 shares of the financial services provider's stock valued at $158,312,000 after buying an additional 2,196,067 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Price Performance

Shares of IBKR opened at $83.79 on Thursday. The firm has a 50 day simple moving average of $74.92 and a two-hundred day simple moving average of $71.39. Interactive Brokers Group, Inc. has a one year low of $49.15 and a one year high of $88.44. The company has a market cap of $142.14 billion, a P/E ratio of 36.12, a P/E/G ratio of 2.31 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.69 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The company's quarterly revenue was up 17.0% on a year-over-year basis. On average, analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.0875 per share. The ex-dividend date is Monday, June 1st. This is a boost from Interactive Brokers Group's previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio is currently 13.79%.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the company's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the sale, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

IBKR has been the subject of a number of analyst reports. The Goldman Sachs Group set a $98.00 price target on shares of Interactive Brokers Group in a research report on Friday, May 1st. Zacks Research downgraded shares of Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 24th. Piper Sandler lifted their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods initiated coverage on shares of Interactive Brokers Group in a research report on Wednesday, April 8th. They issued a "market perform" rating and a $75.00 price target for the company. Finally, Jefferies Financial Group dropped their price target on shares of Interactive Brokers Group from $91.00 to $81.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Interactive Brokers Group presently has a consensus rating of "Moderate Buy" and an average target price of $83.25.

Interactive Brokers Group Company Profile

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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