Interactive Brokers Group (NASDAQ:IBKR) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05, Zacks reports. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 5.06%. The company's revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share.

Interactive Brokers Group Trading Up 7.8%

IBKR stock traded up $4.62 during midday trading on Friday, hitting $64.05. 15,002,107 shares of the company's stock were exchanged, compared to its average volume of 5,850,955. Interactive Brokers Group has a 1-year low of $25.92 and a 1-year high of $65.74. The stock has a market capitalization of $108.28 billion, a PE ratio of 32.93, a P/E/G ratio of 2.91 and a beta of 1.25. The business has a 50-day simple moving average of $53.84 and a two-hundred day simple moving average of $49.40.

Interactive Brokers Group Announces Dividend

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

Institutional Trading of Interactive Brokers Group

An institutional investor recently raised its position in Interactive Brokers Group stock. AQR Capital Management LLC grew its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 24.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,704 shares of the financial services provider's stock after buying an additional 2,713 shares during the quarter. AQR Capital Management LLC's holdings in Interactive Brokers Group were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IBKR shares. Piper Sandler raised their target price on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group upped their target price on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Citigroup increased their target price on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Barclays increased their price objective on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a report on Friday. Finally, Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Interactive Brokers Group currently has a consensus rating of "Moderate Buy" and an average price target of $59.38.

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.