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

Interactive Brokers Group, Inc. (NASDAQ:IBKR) reached a new 52-week high on Thursday . The company traded as high as $88.27 and last traded at $88.29, with a volume of 1305513 shares. The stock had previously closed at $85.12.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IBKR. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a research report on Friday, May 1st. Piper Sandler boosted their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. BMO Capital Markets upped their price objective on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Barclays lifted their target price on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research cut shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.25.

Interactive Brokers Group Stock Down 1.4%

The stock has a 50-day moving average of $73.89 and a 200 day moving average of $71.05. The stock has a market cap of $147.58 billion, a PE ratio of 37.50, a P/E/G ratio of 2.44 and a beta of 1.32.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data 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. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. Interactive Brokers Group’s quarterly revenue was up 17.0% on a year-over-year basis. Research analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

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

Insider Activity at Interactive Brokers Group

In related news, Director Lawrence E. Harris sold 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total value of $2,000,180.00. Following the transaction, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Interactive Brokers Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBKR. HM Payson & Co. grew its holdings in shares of Interactive Brokers Group by 5.8% during the 4th quarter. HM Payson & Co. now owns 2,411 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 133 shares during the period. Ashton Thomas Private Wealth LLC raised its holdings in Interactive Brokers Group by 1.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 11,483 shares of the financial services provider’s stock valued at $738,000 after buying an additional 143 shares during the period. Ballentine Partners LLC lifted its position in Interactive Brokers Group by 1.0% in the third quarter. Ballentine Partners LLC now owns 15,389 shares of the financial services provider’s stock valued at $1,059,000 after buying an additional 145 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Interactive Brokers Group by 0.9% in the first quarter. Gamco Investors INC. ET AL now owns 17,475 shares of the financial services provider’s stock valued at $1,172,000 after buying an additional 150 shares during the last quarter. Finally, Caitlin John LLC boosted its stake in Interactive Brokers Group by 0.6% during the third quarter. Caitlin John LLC now owns 25,195 shares of the financial services provider’s stock worth $1,734,000 after buying an additional 153 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.