Interactive Brokers Group (NASDAQ:IBKR) Hits New 52-Week High – Still a Buy?

Interactive Brokers Group, Inc. (NASDAQ:IBKR)’s share price hit a new 52-week high on Friday . The company traded as high as $93.10 and last traded at $92.2030, with a volume of 676917 shares traded. The stock had previously closed at $88.83.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on IBKR shares. Zacks Research lowered shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 24th. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a research note on Friday, May 1st. BMO Capital Markets raised their target price on Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Jefferies Financial Group decreased their price target 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. Finally, Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Interactive Brokers Group currently has an average rating of “Moderate Buy” and an average price target of $85.22.

Interactive Brokers Group Stock Performance

The firm has a market cap of $156.33 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 2.36 and a beta of 1.32. The business has a fifty day simple moving average of $80.76 and a 200-day simple moving average of $73.34.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share. On average, equities analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 earnings per share for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, June 1st will be given a dividend of $0.0875 per share. The ex-dividend date is Monday, June 1st. This represents a $0.35 annualized dividend and a yield of 0.4%. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. Interactive Brokers Group’s dividend payout ratio is 15.09%.

Insiders Place Their Bets

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total transaction 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. The trade was a 13.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Interactive Brokers Group

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Interactive Brokers Group by 24.7% during the 1st quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock worth $2,269,000 after purchasing an additional 2,713 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Interactive Brokers Group by 307.9% in the 2nd 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 last quarter. Cerity Partners LLC bought a new stake in shares of Interactive Brokers Group in the 2nd quarter valued at about $318,000. Daiwa Securities Group Inc. increased its stake in shares of Interactive Brokers Group by 291.2% in 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% in 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 and hedge funds own 23.80% of the company’s stock.

About Interactive Brokers Group

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.