Interactive Brokers Group (NASDAQ:IBKR) Coverage Initiated by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage of Interactive Brokers Group (NASDAQ:IBKR) with an "outperform" rating and a price target of $82.00, indicating a potential upside of 15.57% from the last closing price.
• In the recent earnings report, Interactive Brokers Group exceeded consensus estimates, reporting $0.51 earnings per share and revenue of $1.48 billion, reflecting a 14.7% year-over-year increase.
• The stock has a current average rating of "Moderate Buy", with eight analysts recommending a buy and a consensus price target of $61.89.

Stock analysts at BMO Capital Markets started coverage on shares of Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) in a report issued on Friday,Benzinga reports. The firm set an "outperform" rating and a $82.00 price target on the financial services provider's stock. BMO Capital Markets' price target points to a potential upside of 15.57% from the company's previous close.

Several other research firms also recently weighed in on IBKR. Wall Street Zen upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler boosted their price target on Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Citigroup boosted their price target 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. Finally, Barclays boosted their price target on Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.89.

Interactive Brokers Group Price Performance

Shares of IBKR stock opened at $70.95 on Friday. Interactive Brokers Group has a 1-year low of $32.82 and a 1-year high of $71.63. The stock's fifty day moving average price is $64.24 and its 200 day moving average price is $54.37. The company has a market cap of $120.34 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 2.80 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 4.92% and a net margin of 9.78%.The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.76 EPS. As a group, equities research analysts anticipate that Interactive Brokers Group will post 7.46 earnings per share for the current year.

Insider Transactions at Interactive Brokers Group

In related news, Vice Chairman Earl H. Nemser sold 194,086 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the completion of the transaction, the insider owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This represents a 29.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Jonathan Brody sold 116,861 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.73, for a total value of $7,564,412.53. Following the completion of the transaction, the chief financial officer directly owned 158,954 shares of the company's stock, valued at $10,289,092.42. The trade was a 42.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,205,683 shares of company stock valued at $77,217,965 in the last ninety days. 2.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Interactive Brokers Group

A number of large investors have recently bought and sold shares of IBKR. Vanguard Group Inc. raised its holdings in Interactive Brokers Group by 303.9% in the 2nd quarter. Vanguard Group Inc. now owns 41,810,406 shares of the financial services provider's stock worth $2,316,715,000 after purchasing an additional 31,458,885 shares during the period. State Street Corp increased its stake in Interactive Brokers Group by 301.3% during the 2nd quarter. State Street Corp now owns 15,131,029 shares of the financial services provider's stock worth $838,410,000 after buying an additional 11,360,260 shares in the last quarter. Cantillon Capital Management LLC increased its stake in Interactive Brokers Group by 288.7% during the 2nd quarter. Cantillon Capital Management LLC now owns 12,803,631 shares of the financial services provider's stock worth $709,449,000 after buying an additional 9,509,805 shares in the last quarter. Greenwich Wealth Management LLC increased its stake in Interactive Brokers Group by 301.6% during the 2nd quarter. Greenwich Wealth Management LLC now owns 10,864,532 shares of the financial services provider's stock worth $602,004,000 after buying an additional 8,159,175 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Interactive Brokers Group by 227.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,148,398 shares of the financial services provider's stock worth $562,328,000 after buying an additional 7,051,682 shares in the last quarter. Institutional investors and hedge funds own 23.80% of the company's stock.

Interactive Brokers Group Company Profile

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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