Exchange Traded Concepts LLC Boosts Position in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Exchange Traded Concepts LLC grew its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 52.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,063 shares of the financial services provider’s stock after acquiring an additional 6,557 shares during the period. Exchange Traded Concepts LLC’s holdings in Interactive Brokers Group were worth $3,368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC grew its position in Interactive Brokers Group by 1,292.1% during the 2nd quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider’s stock worth $132,655,000 after purchasing an additional 1,004,289 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Interactive Brokers Group during the third quarter worth about $83,630,000. Waverton Investment Management Ltd acquired a new stake in Interactive Brokers Group during the third quarter worth about $26,946,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Interactive Brokers Group by 262.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 258,353 shares of the financial services provider’s stock valued at $36,004,000 after purchasing an additional 187,010 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Interactive Brokers Group in the third quarter worth about $25,085,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IBKR shares. Keefe, Bruyette & Woods raised their target price on Interactive Brokers Group from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Monday, January 13th. Barclays boosted their price objective on Interactive Brokers Group from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on Interactive Brokers Group from $171.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Interactive Brokers Group in a report on Wednesday. Finally, Citigroup increased their price objective on shares of Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a report on Friday, January 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.25.

Interactive Brokers Group Stock Up 5.0 %

Shares of NASDAQ IBKR opened at $218.99 on Friday. The firm has a 50-day simple moving average of $186.09 and a 200-day simple moving average of $153.10. The stock has a market capitalization of $92.53 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.87. Interactive Brokers Group, Inc. has a 52 week low of $88.22 and a 52 week high of $220.66.

Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.22. Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1,372,590.34 billion. During the same period in the prior year, the business earned $1.52 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts expect that Interactive Brokers Group, Inc. will post 7.39 EPS for the current year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Friday, February 28th. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 14.16%.

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.