SummitTX Capital L.P. Raises Stock Holdings in Interactive Brokers Group, Inc. $IBKR

Key Points

• SummitTX Capital increased its Interactive Brokers Group stake by 992.1% in the first quarter, ending with 66,531 shares valued at approximately $4.46 million. Several other institutional investors also expanded their positions, with institutions collectively owning 23.8% of the company.
• Analysts maintain a generally positive view of IBKR, with a consensus rating of “Moderate Buy” and an average price target of $96.89. Recent targets range from $81 to $114.
• Interactive Brokers reported quarterly earnings of $0.69 per share, beating estimates of $0.64, while revenue rose 28.1% year over year to $1.88 billion. Shares opened at $92.27, near the company’s 52-week high.

SummitTX Capital L.P. increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 992.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 66,531 shares of the financial services provider's stock after acquiring an additional 60,439 shares during the period. SummitTX Capital L.P.'s holdings in Interactive Brokers Group were worth $4,462,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of IBKR. Norges Bank purchased a new stake in shares of Interactive Brokers Group during the fourth quarter valued at $453,146,000. Orbis Allan Gray Ltd increased its stake in Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider's stock worth $539,697,000 after buying an additional 6,246,715 shares during the period. Bank of America Corp DE lifted its holdings in Interactive Brokers Group by 225.4% during the 2nd quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider's stock valued at $420,834,000 after buying an additional 5,260,923 shares in the last quarter. State Street Corp lifted its holdings in Interactive Brokers Group by 23.2% during the 3rd 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, Invesco Ltd. boosted its position in Interactive Brokers Group by 44.1% in the 4th quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider's stock valued at $533,026,000 after buying an additional 2,534,772 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays set a $114.00 target price on shares of Interactive Brokers Group and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. BMO Capital Markets reiterated an "outperform" rating and issued a $110.00 price target (up from $105.00) on shares of Interactive Brokers Group in a report on Wednesday, July 22nd. Wolfe Research began coverage on Interactive Brokers Group in a report on Monday, June 8th. They set an "outperform" rating and a $101.00 price objective on the stock. Jefferies Financial Group decreased their target price on 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. Finally, The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.89.

Interactive Brokers Group Stock Up 0.6%

Shares of IBKR stock opened at $92.27 on Tuesday. The firm has a market cap of $156.52 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.02 and a beta of 1.33. Interactive Brokers Group, Inc. has a 52-week low of $58.95 and a 52-week high of $97.84. The company's 50 day moving average is $90.22 and its 200 day moving average is $79.63.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.Interactive Brokers Group's revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. Analysts anticipate that Interactive Brokers Group, Inc. will post 2.64 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, September 1st will be paid a $0.0875 dividend. 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 payout ratio is 14.00%.

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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