Interactive Brokers Group (NASDAQ:IBKR) Hits New 52-Week High - Here's What Happened

Key Points

• Interactive Brokers Group's stock hit a new 52-week high of $72.03 during trading, closing at $71.99. The company recorded a trading volume of over 2.3 million shares.
• Analysts have varying ratings for IBKR, with one analyst giving it a Strong Buy, six with a Buy rating, and three a Hold rating, resulting in a consensus rating of Moderate Buy and an average price target of $65.47.
• Interactive Brokers announced a quarterly dividend of $0.08 per share, representing a 0.4% yield, with a payout ratio currently at 16.49%.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $72.03 and last traded at $71.99, with a volume of 2305621 shares changing hands. The stock had previously closed at $69.35.

Wall Street Analysts Forecast Growth

IBKR has been the subject of a number of recent research reports. Zacks Research downgraded Interactive Brokers Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 2nd. Piper Sandler upped their price objective on Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Citigroup upped their price objective on Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Interactive Brokers Group in a research note on Saturday, September 27th. Finally, BMO Capital Markets started coverage on Interactive Brokers Group in a research note on Friday, October 3rd. They set an "outperform" rating and a $82.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.47.

Interactive Brokers Group Stock Performance

The company has a market capitalization of $122.21 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22. The firm has a fifty day moving average price of $64.50 and a 200-day moving average price of $54.99.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its 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. The firm had revenue of $1.48 billion during 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 business's quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. On average, sell-side analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, September 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 29th. Interactive Brokers Group's payout ratio is presently 16.49%.

Insiders Place Their Bets

In other news, CFO Paul Jonathan Brody sold 17,058 shares of the business's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $65.78, for a total transaction of $1,122,075.24. Following the completion of the sale, the chief financial officer owned 28,289 shares in the company, valued at $1,860,850.42. The trade was a 37.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 1,205,683 shares of company stock valued at $77,217,965 in the last ninety days. Insiders own 2.97% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Interactive Brokers Group by 50.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 597,176 shares of the financial services provider's stock valued at $98,886,000 after purchasing an additional 199,467 shares during the period. Thrive Wealth Management LLC increased its stake in Interactive Brokers Group by 243.8% in the 2nd quarter. Thrive Wealth Management LLC now owns 8,691 shares of the financial services provider's stock worth $482,000 after acquiring an additional 6,163 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Interactive Brokers Group by 1,093.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,378 shares of the financial services provider's stock worth $409,000 after acquiring an additional 6,760 shares during the last quarter. Truist Financial Corp increased its stake in Interactive Brokers Group by 237.8% in the 2nd quarter. Truist Financial Corp now owns 202,665 shares of the financial services provider's stock worth $11,230,000 after acquiring an additional 142,662 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in Interactive Brokers Group by 19.5% in the 1st quarter. Inspire Investing LLC now owns 47,341 shares of the financial services provider's stock worth $7,839,000 after acquiring an additional 7,734 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company's stock.

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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