Retirement Planning Co of New England Inc. Purchases New Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Retirement Planning Co of New England Inc. bought a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,050 shares of the financial services provider's stock, valued at approximately $1,167,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Interactive Brokers Group by 151.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 261 shares of the financial services provider's stock valued at $48,000 after buying an additional 157 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Interactive Brokers Group by 6.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 17,008 shares of the financial services provider's stock valued at $3,005,000 after acquiring an additional 990 shares in the last quarter. Rovida Investment Management Ltd bought a new stake in shares of Interactive Brokers Group during the fourth quarter valued at approximately $17,652,000. Orion Portfolio Solutions LLC bought a new stake in shares of Interactive Brokers Group during the fourth quarter valued at approximately $242,000. Finally, New Age Alpha Advisors LLC bought a new stake in Interactive Brokers Group during the fourth quarter worth $10,888,000. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Stock Performance

Shares of IBKR traded up $4.62 on Friday, reaching $64.05. The stock had a trading volume of 15,002,107 shares, compared to its average volume of 5,845,784. The firm has a market capitalization of $108.28 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. The company has a 50-day simple moving average of $53.84 and a 200-day simple moving average of $49.36. Interactive Brokers Group, Inc. has a 12-month low of $25.92 and a 12-month high of $65.74.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 5.06% and a net margin of 9.78%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. The company's revenue was up 14.7% on a year-over-year basis. On average, analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Friday, August 29th. Interactive Brokers Group's dividend payout ratio is 17.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IBKR shares. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. The Goldman Sachs Group boosted their price objective on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Citigroup boosted their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Barclays upped their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Bank of America dropped their price target on 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Interactive Brokers Group currently has a consensus rating of "Moderate Buy" and a consensus target price 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.