Milford Funds Ltd. Acquires Shares of 416,730 Interactive Brokers Group, Inc. $IBKR

Milford Funds Ltd. acquired a new stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 416,730 shares of the financial services provider’s stock, valued at approximately $26,800,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IBKR. AQR Capital Management LLC lifted its position in Interactive Brokers Group by 24.7% in the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock valued at $2,269,000 after purchasing an additional 2,713 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Interactive Brokers Group by 307.9% during the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock valued at $803,000 after buying an additional 10,943 shares during the period. Cerity Partners LLC purchased a new position in shares of Interactive Brokers Group during the second quarter valued at approximately $318,000. Daiwa Securities Group Inc. increased its stake in shares of Interactive Brokers Group by 291.2% during the second quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock valued at $1,973,000 after buying an additional 26,500 shares during the period. Finally, AXA S.A. increased its stake in shares of Interactive Brokers Group by 128.1% during the second quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock valued at $710,000 after buying an additional 7,197 shares during the period. Institutional investors own 23.80% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the sale, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their target price on Interactive Brokers Group from $80.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Wolfe Research assumed coverage on Interactive Brokers Group in a research note on Monday. They set an “outperform” rating and a $101.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on Interactive Brokers Group in a research note on Wednesday, April 8th. They set a “market perform” rating and a $75.00 target price on the stock. Barclays boosted their target price on Interactive Brokers Group from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group reduced their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and an average price target of $85.22.

Interactive Brokers Group Stock Up 2.2%

Shares of IBKR stock opened at $90.81 on Friday. The stock has a market cap of $154.05 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.45 and a beta of 1.32. The business’s fifty day moving average is $81.21 and its 200 day moving average is $73.46. Interactive Brokers Group, Inc. has a twelve month low of $49.30 and a twelve month high of $93.10.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 earnings per share. Equities research analysts expect that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were paid a $0.0875 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.08. This represents a $0.35 annualized dividend and a yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 15.09%.

Interactive Brokers Group Company Profile

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.