Saudi Central Bank Boosts Stake in Interactive Brokers Group, Inc. $IBKR

Key Points

• Saudi Central Bank increased its Interactive Brokers Group stake by 80.2% in the second quarter, adding 13,182 shares to own 29,621 shares valued at approximately $2.58 million.
• Interactive Brokers reported stronger-than-expected quarterly results, with EPS of $0.69 versus the $0.64 consensus estimate and revenue of $1.88 billion, up 28.1% year over year.
• The company declared a quarterly dividend of $0.0875 per share, equivalent to a $0.35 annualized payout and 0.4% yield. Analysts’ average rating is “Moderate Buy,” with an average price target of $98.90.

Saudi Central Bank increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 80.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,621 shares of the financial services provider's stock after acquiring an additional 13,182 shares during the period. Saudi Central Bank's holdings in Interactive Brokers Group were worth $2,578,000 as of its most recent SEC filing.

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

Interactive Brokers Group Stock Performance

NASDAQ IBKR opened at $92.62 on Tuesday. The stock's fifty day moving average is $92.12 and its two-hundred day moving average is $83.33. The firm has a market capitalization of $157.58 billion, a P/E ratio of 37.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.35. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $98.75.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.51 EPS. The company's revenue for the quarter was up 28.1% on a year-over-year basis. As a group, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 2.68 EPS for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Tuesday, September 1st will be given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. Interactive Brokers Group's dividend payout ratio (DPR) is presently 14.00%.

Analyst Upgrades and Downgrades

IBKR has been the subject of a number of research reports. Bank of America boosted their target price on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Interactive Brokers Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Zacks Research upgraded Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. The Goldman Sachs Group set a $113.00 price objective on Interactive Brokers Group and gave the stock a "buy" rating in a research note on Tuesday, September 1st. Finally, UBS Group cut Interactive Brokers Group from a "buy" rating to a "neutral" rating and increased their target price for the company from $50.00 to $102.00 in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $98.90.

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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