PNC Financial Services Group Inc. Acquires 10,798 Shares of Interactive Brokers Group, Inc. $IBKR

PNC Financial Services Group Inc. increased its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 23.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,096 shares of the financial services provider’s stock after purchasing an additional 10,798 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Interactive Brokers Group were worth $3,829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBKR. AQR Capital Management LLC grew its holdings 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 valued at $2,269,000 after buying an additional 2,713 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Interactive Brokers Group by 307.9% in the second quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after buying an additional 10,943 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Interactive Brokers Group in the second quarter worth $318,000. Daiwa Securities Group Inc. boosted its position 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 worth $1,973,000 after acquiring an additional 26,500 shares during the last quarter. Finally, AXA S.A. boosted its position 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 worth $710,000 after acquiring an additional 7,197 shares during the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

IBKR stock opened at $92.27 on Tuesday. The firm has a fifty day moving average price of $90.22 and a 200 day moving average price of $79.63. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $97.84. The firm has a market cap of $156.52 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.80 billion. Interactive Brokers Group had a net margin of 9.94% and a return on equity of 5.37%. Interactive Brokers Group’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. On average, equities analysts predict that Interactive Brokers Group, Inc. will post 2.64 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be issued a $0.0875 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. Interactive Brokers Group’s payout ratio is 14.00%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. China Renaissance initiated coverage on shares of Interactive Brokers Group in a report on Tuesday, July 7th. They issued a “hold” rating on the stock. Jefferies Financial Group dropped their price objective on shares of Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating for the company in a report on Monday, April 6th. Keefe, Bruyette & Woods initiated coverage on Interactive Brokers Group in a research report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price objective for the company. Piper Sandler set a $109.00 target price on Interactive Brokers Group in a report on Wednesday, July 22nd. 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. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Interactive Brokers Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.89.

Interactive Brokers Group 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.