Interactive Brokers Group, Inc. (NASDAQ:IBKR) Shares Acquired by State of Michigan Retirement System
State of Michigan Retirement System raised its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR – Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,279 shares of the financial services provider’s stock after purchasing an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Interactive Brokers Group were worth $2,936,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. Oliver Luxxe Assets LLC increased its position in shares of Interactive Brokers Group by 1.8% during the first quarter. Oliver Luxxe Assets LLC now owns 7,047 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 126 shares in the last quarter. 180 Wealth Advisors LLC acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $224,000. Thrive Wealth Management LLC acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $246,000. Wallace Advisory Group LLC increased its position in shares of Interactive Brokers Group by 8.8% in the 1st quarter. Wallace Advisory Group LLC now owns 2,693 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 217 shares during the period. Finally, Factory Mutual Insurance Co. acquired a new position in shares of Interactive Brokers Group in the 1st quarter valued at $3,351,000. 23.80% of the stock is owned by institutional investors and hedge funds.
Interactive Brokers Group Stock Performance
NASDAQ:IBKR opened at $125.53 on Thursday. Interactive Brokers Group, Inc. has a one year low of $72.60 and a one year high of $129.19. The firm has a market cap of $52.86 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.22 and a beta of 0.81. The firm’s fifty day moving average is $122.57 and its two-hundred day moving average is $107.92.
Interactive Brokers Group (NASDAQ:IBKR – Get Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.63 by $0.01. Interactive Brokers Group had a net margin of 7.62% and a return on equity of 4.72%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. As a group, equities research analysts predict that Interactive Brokers Group, Inc. will post 6.59 earnings per share for the current fiscal year.
Interactive Brokers Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.25 per share. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.10. This represents a $1.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, May 31st. Interactive Brokers Group’s dividend payout ratio is presently 17.09%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on IBKR shares. Jefferies Financial Group upped their target price on Interactive Brokers Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Piper Sandler upped their target price 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. Citigroup upped their target price on Interactive Brokers Group from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Bank of America upped their target price on Interactive Brokers Group from $147.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Barclays upped their target price on Interactive Brokers Group from $132.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.
View Our Latest Stock Analysis on Interactive Brokers Group
Interactive Brokers Group 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.
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