Tortoise Investment Management LLC Grows Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Tortoise Investment Management LLC raised its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 75.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 510 shares of the financial services provider’s stock after acquiring an additional 220 shares during the quarter. Tortoise Investment Management LLC’s holdings in Interactive Brokers Group were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IBKR. JPMorgan Chase & Co. raised its position in shares of Interactive Brokers Group by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 4,017,082 shares of the financial services provider’s stock valued at $559,821,000 after purchasing an additional 11,379 shares during the period. Cantillon Capital Management LLC raised its position in shares of Interactive Brokers Group by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 3,395,690 shares of the financial services provider’s stock valued at $599,917,000 after purchasing an additional 18,047 shares during the period. State Street Corp raised its position in shares of Interactive Brokers Group by 1.7% in the third quarter. State Street Corp now owns 3,222,135 shares of the financial services provider’s stock valued at $449,037,000 after purchasing an additional 52,911 shares during the period. Geode Capital Management LLC raised its position in shares of Interactive Brokers Group by 5.4% in the third quarter. Geode Capital Management LLC now owns 2,065,535 shares of the financial services provider’s stock valued at $287,921,000 after purchasing an additional 106,392 shares during the period. Finally, FMR LLC raised its position in shares of Interactive Brokers Group by 12.2% in the third quarter. FMR LLC now owns 1,094,598 shares of the financial services provider’s stock valued at $152,543,000 after purchasing an additional 119,187 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Jill Bright acquired 135 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $219.51 per share, with a total value of $29,633.85. Following the purchase, the director now owns 2,476 shares of the company’s stock, valued at approximately $543,506.76. This trade represents a 5.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IBKR. Keefe, Bruyette & Woods boosted their price target on shares of 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. The Goldman Sachs Group boosted their price target on shares of 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 research report on Wednesday, January 22nd. Barclays upped their target price on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Citigroup upped their target price on shares of Interactive Brokers Group from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.13.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $167.16 on Tuesday. The company’s fifty day moving average price is $205.65 and its 200-day moving average price is $174.23. The firm has a market capitalization of $70.63 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.59 and a beta of 0.99. Interactive Brokers Group, Inc. has a one year low of $103.69 and a one year high of $236.53.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.22. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, equities research analysts expect that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, February 28th. Interactive Brokers Group’s payout ratio is 14.16%.

About Interactive Brokers Group

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.