Zacks Investment Research cut shares of Interactive Brokers Group (NASDAQ:IBKR) from a buy rating to a hold rating in a report published on Wednesday, January 3rd.
According to Zacks, “Interactive Brokers’ shares have significantly outperformed the industry in the past six months. Nevertheless, the company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. The company continues with its plans of streamlining operations and focus on strengthening its Electronic Brokerage segment. In sync with this, it sold U.S. options-market-making business (Timber Hill), which along with the other restructuring efforts should support financials. However, the company’s high dependence on IBG remains a concern. If IBG LLC fails to provide sufficient funds to pay taxes or for any other purpose, its financial condition may suffer significantly.”
Other equities analysts also recently issued reports about the stock. SunTrust Banks lifted their target price on shares of Interactive Brokers Group to $48.00 and gave the stock an average rating in a research note on Wednesday, October 18th. BidaskClub downgraded shares of Interactive Brokers Group from a strong-buy rating to a buy rating in a research note on Saturday, December 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $48.33.
Interactive Brokers Group (NASDAQ IBKR) traded up $0.29 on Wednesday, reaching $62.44. 263,200 shares of the company were exchanged, compared to its average volume of 867,513. Interactive Brokers Group has a 52-week low of $33.01 and a 52-week high of $62.85. The firm has a market capitalization of $25,720.00, a price-to-earnings ratio of 53.83, a PEG ratio of 3.22 and a beta of 1.02.
Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Interactive Brokers Group had a net margin of 5.29% and a return on equity of 1.35%. The company had revenue of $426.00 million for the quarter, compared to the consensus estimate of $382.85 million. During the same period in the previous year, the firm earned $0.30 earnings per share. Interactive Brokers Group’s quarterly revenue was up 23.5% compared to the same quarter last year. analysts forecast that Interactive Brokers Group will post 1.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Friday, December 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, November 30th. Interactive Brokers Group’s dividend payout ratio (DPR) is 34.48%.
In other news, insider Thomas Aj Frank sold 33,615 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $47.57, for a total value of $1,599,065.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul Jonathan Brody sold 11,033 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $47.58, for a total transaction of $524,950.14. The disclosure for this sale can be found here. Insiders sold a total of 438,338 shares of company stock worth $22,604,165 over the last three months. Insiders own 3.41% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IBKR. The Manufacturers Life Insurance Company increased its stake in Interactive Brokers Group by 27.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,966 shares of the financial services provider’s stock worth $111,000 after buying an additional 647 shares during the period. Riverhead Capital Management LLC increased its stake in Interactive Brokers Group by 71.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,095 shares of the financial services provider’s stock worth $116,000 after buying an additional 1,295 shares during the period. World Asset Management Inc purchased a new stake in Interactive Brokers Group during the 3rd quarter worth approximately $214,000. Everence Capital Management Inc. purchased a new stake in Interactive Brokers Group during the 3rd quarter worth approximately $224,000. Finally, Teacher Retirement System of Texas purchased a new stake in Interactive Brokers Group during the 3rd quarter worth approximately $240,000. 15.79% of the stock is currently owned by hedge funds and other institutional investors.
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About Interactive Brokers Group
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.
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