Parallel Advisors LLC Acquires 6,003 Shares of Interactive Brokers Group, Inc. $IBKR

Parallel Advisors LLC increased its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 341.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,759 shares of the financial services provider’s stock after buying an additional 6,003 shares during the period. Parallel Advisors LLC’s holdings in Interactive Brokers Group were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Reflection Asset Management bought a new stake in shares of Interactive Brokers Group during the fourth quarter valued at approximately $26,000. IMA Advisory Services Inc. raised its position in Interactive Brokers Group by 64.3% in the 4th quarter. IMA Advisory Services Inc. now owns 455 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 178 shares during the last quarter. Tobam acquired a new position in Interactive Brokers Group during the 4th quarter worth $30,000. Entrust Financial LLC acquired a new position in Interactive Brokers Group during the 4th quarter worth $31,000. Finally, SHP Wealth Management bought a new position in Interactive Brokers Group in the 4th quarter valued at $31,000. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Up 3.2%

NASDAQ IBKR opened at $90.66 on Tuesday. Interactive Brokers Group, Inc. has a 12 month low of $58.95 and a 12 month high of $97.84. The stock has a 50-day simple moving average of $91.20 and a 200 day simple moving average of $80.82. The company has a market capitalization of $153.79 billion, a PE ratio of 36.26, a P/E/G ratio of 1.62 and a beta of 1.34.

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

Interactive Brokers Group Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on IBKR shares. BMO Capital Markets reissued an “outperform” rating and issued a $110.00 target price (up from $105.00) on shares of Interactive Brokers Group in a research note on Wednesday, July 22nd. Weiss Ratings raised Interactive Brokers Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Zacks Research upgraded Interactive Brokers Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Barclays set a $114.00 price objective on Interactive Brokers Group and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, Wolfe Research initiated coverage on Interactive Brokers Group in a report on Monday, June 8th. They set an “outperform” rating and a $101.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.