Interactive Brokers Group (NASDAQ:IBKR) Price Target Cut to $105.00 by Analysts at BMO Capital Markets

Interactive Brokers Group (NASDAQ:IBKR) had its price target decreased by BMO Capital Markets from $110.00 to $105.00 in a research report report published on Tuesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler set a $109.00 price objective on shares of Interactive Brokers Group in a report on Wednesday, July 22nd. UBS Group cut Interactive Brokers Group from a “buy” rating to a “neutral” rating and upped their price target for the company from $50.00 to $102.00 in a report on Tuesday, September 1st. Wolfe Research assumed coverage on Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 price objective for the company. Weiss Ratings lowered Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Finally, Barclays set a $114.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group has a consensus rating of “Moderate Buy” and an average target price of $99.92.

Interactive Brokers Group Stock Performance

Interactive Brokers Group stock opened at $90.58 on Tuesday. The company has a 50-day simple moving average of $90.59 and a 200-day simple moving average of $86.16. The firm has a market capitalization of $154.11 billion, a P/E ratio of 36.23, a P/E/G ratio of 1.64 and a beta of 1.37. Interactive Brokers Group has a one year low of $58.95 and a one year high of $98.75.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $0.51 EPS. Interactive Brokers Group’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Interactive Brokers Group will post 2.69 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, September 1st. Interactive Brokers Group’s payout ratio is presently 14.00%.

Institutional Trading of Interactive Brokers Group

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of Interactive Brokers Group during the 2nd quarter valued at $210,639,000. Bessemer Group Inc. raised its holdings in shares of Interactive Brokers Group by 156.0% during the first quarter. Bessemer Group Inc. now owns 3,922,736 shares of the financial services provider’s stock worth $263,097,000 after acquiring an additional 2,390,247 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Interactive Brokers Group by 2,707.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,192,749 shares of the financial services provider’s stock worth $79,998,000 after acquiring an additional 1,150,271 shares in the last quarter. Amundi boosted its position in Interactive Brokers Group by 62.4% during the first quarter. Amundi now owns 2,433,236 shares of the financial services provider’s stock valued at $163,197,000 after purchasing an additional 934,843 shares during the last quarter. Finally, Milford Funds Ltd. purchased a new position in Interactive Brokers Group in the fourth quarter valued at about $26,800,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

About Interactive Brokers Group

Interactive Brokers Group, Inc is a global electronic brokerage company that provides trading, investment and custody services to individual investors, financial advisors, hedge funds, proprietary trading firms, family offices and other institutional clients. The company offers access to a broad range of markets and financial instruments, including stocks, options, futures, currencies, bonds, exchange-traded funds and mutual funds.

Interactive Brokers provides its services through digital platforms such as Trader Workstation, IBKR Mobile and Client Portal, along with application programming interfaces for clients seeking automated or integrated trading capabilities.