Interactive Brokers Group (NASDAQ:IBKR) Given New $106.00 Price Target at Bank of America

Interactive Brokers Group (NASDAQ:IBKR) had its price target boosted by investment analysts at Bank of America from $83.00 to $106.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 11.05% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group set a $98.00 price objective on shares of Interactive Brokers Group in a report on Friday, May 1st. Jefferies Financial Group dropped their target price on shares of 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. Wolfe Research assumed coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 target price on the stock. Keefe, Bruyette & Woods began coverage on shares of Interactive Brokers Group in a research note on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price target for the company. Finally, Weiss Ratings lowered Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Interactive Brokers Group presently has an average rating of “Moderate Buy” and an average price target of $92.00.

Interactive Brokers Group Stock Performance

IBKR stock traded up $1.89 during midday trading on Tuesday, reaching $95.45. The company’s stock had a trading volume of 181,632 shares, compared to its average volume of 4,926,764. The stock has a fifty day simple moving average of $88.70 and a two-hundred day simple moving average of $77.78. Interactive Brokers Group has a 1 year low of $58.18 and a 1 year high of $97.84. The firm has a market capitalization of $161.92 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 2.60 and a beta of 1.33.

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

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 173,482 shares in the company, valued at $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Interactive Brokers Group

Several hedge funds have recently modified their holdings of IBKR. Tema ETFs LLC boosted its stake in shares of Interactive Brokers Group by 10.6% during the second quarter. Tema ETFs LLC now owns 9,050 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 870 shares in the last quarter. Fiduciary Financial Group LLC increased its holdings in Interactive Brokers Group by 3.1% during the second quarter. Fiduciary Financial Group LLC now owns 3,968 shares of the financial services provider’s stock valued at $345,000 after buying an additional 118 shares during the period. Handelsbanken Fonder AB raised its stake in Interactive Brokers Group by 5.7% in the second quarter. Handelsbanken Fonder AB now owns 124,883 shares of the financial services provider’s stock worth $10,870,000 after buying an additional 6,756 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Interactive Brokers Group by 3,043.5% in the second quarter. Financial Management Professionals Inc. now owns 723 shares of the financial services provider’s stock worth $63,000 after buying an additional 700 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in Interactive Brokers Group during the second quarter worth $214,000. Hedge funds and other institutional investors 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.