Virtu Financial LLC Boosts Stock Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Key Points

• Virtu Financial LLC increased its stake in Interactive Brokers Group by 471.6% during the first quarter, bringing its total holdings to 26,343 shares valued at approximately $4.36 million.
• Several analysts have raised their price targets for Interactive Brokers Group, with Piper Sandler increasing its target from $45.50 to $65.00 and maintaining an "overweight" rating.
• Interactive Brokers Group reported a quarterly revenue of $1.48 billion, exceeding expectations, and announced a quarterly dividend of $0.08 per share scheduled for payment on September 12.

Virtu Financial LLC boosted its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 471.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,343 shares of the financial services provider's stock after buying an additional 21,734 shares during the period. Virtu Financial LLC's holdings in Interactive Brokers Group were worth $4,362,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Interactive Brokers Group by 6.6% during the 1st quarter. CWM LLC now owns 1,062 shares of the financial services provider's stock worth $176,000 after purchasing an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Interactive Brokers Group by 0.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 8,512 shares of the financial services provider's stock worth $1,410,000 after purchasing an additional 70 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Interactive Brokers Group by 4.1% during the 1st quarter. Ritholtz Wealth Management now owns 1,987 shares of the financial services provider's stock worth $329,000 after purchasing an additional 79 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of Interactive Brokers Group by 3.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,480 shares of the financial services provider's stock worth $411,000 after purchasing an additional 79 shares during the last quarter. Finally, Securian Asset Management Inc. boosted its holdings in shares of Interactive Brokers Group by 1.2% during the 1st quarter. Securian Asset Management Inc. now owns 8,331 shares of the financial services provider's stock worth $1,380,000 after purchasing an additional 100 shares during the last quarter. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IBKR shares. Piper Sandler boosted their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group boosted their target price on Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Bank of America lowered their target price 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. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Citigroup upped their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Interactive Brokers Group has a consensus rating of "Moderate Buy" and an average target price of $59.38.

Interactive Brokers Group Stock Performance

IBKR opened at $65.91 on Friday. Interactive Brokers Group, Inc. has a one year low of $28.63 and a one year high of $66.82. The stock has a market capitalization of $111.42 billion, a PE ratio of 33.89, a P/E/G ratio of 2.69 and a beta of 1.22. The business's 50 day moving average price is $57.65 and its 200 day moving average price is $51.19.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm's quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts forecast that Interactive Brokers Group, Inc. will post 7.46 earnings per share 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 given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's payout ratio is presently 16.49%.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 39,786 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $66.38, for a total value of $2,640,994.68. Following the sale, the insider owned 360,114 shares of the company's stock, valued at $23,904,367.32. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.97% of the stock is currently owned by insiders.

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.

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