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

Key Points

• Interactive Brokers Group reached a new 52-week high, trading as high as $97.89 and last at $98.2960, up from a prior close of $93.05.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $96.89, with recent targets raised to $106 by Bank of America and $110 by BMO Capital Markets.
• The company exceeded quarterly expectations, reporting $0.69 in EPS versus $0.64 expected and $1.88 billion in revenue versus $1.80 billion forecast; revenue increased 28.1% year over year. It also declared a quarterly dividend of $0.0875 per share.

Interactive Brokers Group, Inc. (NASDAQ:IBKR - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $97.89 and last traded at $98.2960, with a volume of 2604169 shares. The stock had previously closed at $93.05.

Analysts Set New Price Targets

Several brokerages recently issued reports on IBKR. China Renaissance began coverage on shares of Interactive Brokers Group in a report on Tuesday, July 7th. They issued a "hold" rating on the stock. Weiss Ratings raised shares of Interactive Brokers Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Zacks Research raised shares of Interactive Brokers Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Bank of America upped their price objective on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $110.00 price objective (up from $105.00) on shares of Interactive Brokers Group in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Interactive Brokers Group currently has a consensus rating of "Moderate Buy" and an average price target of $96.89.

Interactive Brokers Group Price Performance

The company's 50 day simple moving average is $91.96 and its 200 day simple moving average is $81.94. The firm has a market cap of $167.35 billion, a price-to-earnings ratio of 39.34, a P/E/G ratio of 1.73 and a beta of 1.34.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.The company's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. As a group, analysts forecast that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Tuesday, September 1st will be given a $0.0875 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group's dividend payout ratio (DPR) is currently 14.00%.

Institutional Trading of Interactive Brokers Group

Large investors have recently made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of Interactive Brokers Group during the fourth quarter worth $1,746,000. Covenant Asset Management LLC acquired a new position in Interactive Brokers Group in the 4th quarter valued at $3,028,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Interactive Brokers Group by 5.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 932,381 shares of the financial services provider's stock worth $62,684,000 after buying an additional 43,984 shares during the last quarter. North Dakota State Investment Board acquired a new stake in shares of Interactive Brokers Group in the 4th quarter worth $945,000. Finally, Passumpsic Savings Bank acquired a new stake in shares of Interactive Brokers Group in the 4th quarter worth $2,011,000. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

About Interactive Brokers Group

Interactive Brokers Group, Inc NASDAQ: IBKR is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source