Interactive Brokers Group, Inc. (NASDAQ:IBKR) Declares Dividend Increase - $0.25 Per Share

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.25 per share by the financial services provider on Friday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, May 31st. This is a positive change from Interactive Brokers Group's previous quarterly dividend of $0.10.

Interactive Brokers Group has a payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Interactive Brokers Group to earn $6.32 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 6.3%.

Interactive Brokers Group Price Performance

Shares of IBKR stock traded up $1.37 during trading on Thursday, hitting $110.60. 960,921 shares of the stock traded hands, compared to its average volume of 1,190,980. The firm's fifty day moving average price is $108.49 and its 200-day moving average price is $92.68. The firm has a market capitalization of $46.57 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. Interactive Brokers Group has a 52-week low of $70.83 and a 52-week high of $116.92.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Interactive Brokers Group had a return on equity of 4.84% and a net margin of 7.62%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the firm posted $1.30 earnings per share. Interactive Brokers Group's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Interactive Brokers Group will post 6.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Vice Chairman Earl H. Nemser sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $104.86, for a total transaction of $524,300.00. Following the completion of the sale, the insider now owns 113,770 shares of the company's stock, valued at approximately $11,929,922.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 74,218 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the transaction, the insider now owns 234,552 shares of the company's stock, valued at approximately $22,585,012.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Earl H. Nemser sold 5,000 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $104.86, for a total transaction of $524,300.00. Following the completion of the transaction, the insider now owns 113,770 shares in the company, valued at $11,929,922.20. The disclosure for this sale can be found here. Insiders have sold a total of 428,883 shares of company stock valued at $40,395,135 over the last quarter. Company insiders own 3.21% of the company's stock.

Institutional Trading of Interactive Brokers Group

Several hedge funds have recently added to or reduced their stakes in IBKR. Vanguard Group Inc. grew its holdings in Interactive Brokers Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,690,031 shares of the financial services provider's stock worth $803,304,000 after acquiring an additional 123,201 shares during the period. BlackRock Inc. increased its stake in shares of Interactive Brokers Group by 0.8% in the first quarter. BlackRock Inc. now owns 8,972,309 shares of the financial services provider's stock worth $740,754,000 after acquiring an additional 69,018 shares during the last quarter. State Street Corp grew its stake in Interactive Brokers Group by 2.8% in the second quarter. State Street Corp now owns 2,818,815 shares of the financial services provider's stock valued at $234,159,000 after purchasing an additional 76,695 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Interactive Brokers Group by 26.0% in the 1st quarter. Bank of America Corp DE now owns 1,857,963 shares of the financial services provider's stock valued at $153,393,000 after purchasing an additional 383,027 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Interactive Brokers Group by 3.2% in the 1st quarter. Geode Capital Management LLC now owns 1,437,671 shares of the financial services provider's stock valued at $118,694,000 after acquiring an additional 44,776 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on IBKR shares. UBS Group reduced their price target on shares of Interactive Brokers Group from $108.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, January 9th. Citigroup boosted their target price on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, April 11th. Jefferies Financial Group upped their price target on Interactive Brokers Group from $133.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays raised their target price on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Piper Sandler upped their price objective on Interactive Brokers Group from $105.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Interactive Brokers Group has an average rating of "Moderate Buy" and a consensus price target of $124.00.

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.