South Dakota Investment Council Buys New Shares in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

South Dakota Investment Council bought a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,178 shares of the financial services provider's stock, valued at approximately $4,004,000.

Several other large investors have also made changes to their positions in IBKR. Aster Capital Management DIFC Ltd increased its holdings in Interactive Brokers Group by 39.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 186 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 53 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in shares of Interactive Brokers Group during the fourth quarter worth about $35,000. City Holding Co. purchased a new position in Interactive Brokers Group in the first quarter valued at about $33,000. LGT Financial Advisors LLC boosted its holdings in Interactive Brokers Group by 596.7% in the fourth quarter. LGT Financial Advisors LLC now owns 209 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 179 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new position in Interactive Brokers Group in the first quarter valued at about $43,000. 23.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IBKR has been the subject of a number of research reports. Citigroup lifted their target price 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. Barclays lifted their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Bank of America cut their price target on Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Piper Sandler lifted their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 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 an average rating of "Moderate Buy" and an average target price of $59.38.

Interactive Brokers Group Price Performance

NASDAQ IBKR traded up $0.82 on Wednesday, hitting $63.07. 1,813,816 shares of the stock were exchanged, compared to its average volume of 5,858,849. Interactive Brokers Group, Inc. has a 52-week low of $25.92 and a 52-week high of $65.74. The company has a market capitalization of $106.61 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 2.56 and a beta of 1.25. The company's 50-day moving average price is $54.33 and its two-hundred day moving average price is $49.63.

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 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the previous year, the company posted $1.76 EPS. Interactive Brokers Group's revenue was up 14.7% on a year-over-year basis. Equities analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 29th. This represents a $0.32 annualized dividend and a yield of 0.51%. Interactive Brokers Group's dividend payout ratio is 16.49%.

About Interactive Brokers Group

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.