Interactive Brokers Group (NASDAQ:IBKR) Hits New 12-Month High - Should You Buy?

Key Points

• Interactive Brokers Group's stock reached a new 52-week high of $67.57 during mid-day trading, reflecting a strong upward performance with a trading volume of 280,015 shares.
• Analysts have raised their price targets for Interactive Brokers, with Barclays increasing theirs from $65.00 to $73.00, and overall, the stock currently has a consensus price target of $59.38.
• The company announced a quarterly dividend of $0.08, reflecting a 0.5% dividend yield and indicating a healthy return to investors.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $67.57 and last traded at $67.17, with a volume of 280015 shares trading hands. The stock had previously closed at $66.18.

Wall Street Analysts Forecast Growth

IBKR has been the subject of several research analyst reports. Piper Sandler raised their price target on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Bank of America dropped their price objective on Interactive Brokers Group from $66.25 to $60.75 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Barclays lifted their price objective 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. Citigroup lifted their price objective on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Interactive Brokers Group from $53.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Interactive Brokers Group Stock Up 0.9%

The company has a market capitalization of $108.24 billion, a PE ratio of 32.94, a PEG ratio of 2.76 and a beta of 1.22. The company's 50 day moving average is $58.49 and its two-hundred day moving average is $51.46.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same period last year, the company posted $1.76 EPS. The business's revenue was up 14.7% on a year-over-year basis. Analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, September 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. Interactive Brokers Group's dividend payout ratio is presently 16.49%.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 39,786 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $66.38, for a total value of $2,640,994.68. Following the completion of the sale, the insider owned 360,114 shares of the company's stock, valued at approximately $23,904,367.32. This represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Interactive Brokers Group

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