Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Up Following Earnings Beat

Interactive Brokers Group, Inc. (NASDAQ:IBKR) shares gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $192.83, but opened at $207.00. Interactive Brokers Group shares last traded at $203.70, with a volume of 525,031 shares trading hands.

The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.22. Interactive Brokers Group had a net margin of 7.89% and a return on equity of 4.83%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1,372,590.34 billion. During the same quarter in the prior year, the business posted $1.52 EPS. The business’s revenue was up 21.8% compared to the same quarter last year.

Interactive Brokers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.48%. Interactive Brokers Group’s payout ratio is presently 15.27%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IBKR shares. Barclays increased their price target on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group increased their price target on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Interactive Brokers Group in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the company a “market perform” rating in a research note on Monday, January 13th. Finally, Citigroup raised their price target on shares of Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.25.

Institutional Investors Weigh In On Interactive Brokers Group

Several large investors have recently modified their holdings of the company. Townsquare Capital LLC increased its position in shares of Interactive Brokers Group by 1.2% during the third quarter. Townsquare Capital LLC now owns 5,456 shares of the financial services provider’s stock worth $760,000 after buying an additional 67 shares during the period. TD Private Client Wealth LLC grew its holdings in Interactive Brokers Group by 0.3% in the third quarter. TD Private Client Wealth LLC now owns 19,797 shares of the financial services provider’s stock worth $2,759,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc grew its holdings in Interactive Brokers Group by 66.4% in the fourth quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares during the period. Lebenthal Global Advisors LLC grew its holdings in Interactive Brokers Group by 1.1% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,187 shares of the financial services provider’s stock worth $1,270,000 after purchasing an additional 78 shares during the period. Finally, Koshinski Asset Management Inc. grew its holdings in Interactive Brokers Group by 3.7% in the fourth quarter. Koshinski Asset Management Inc. now owns 2,252 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 81 shares during the period. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Interactive Brokers Group Price Performance

The firm has a market capitalization of $88.64 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.38 and a beta of 0.87. The business’s fifty day simple moving average is $184.70 and its 200 day simple moving average is $151.85.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.