Covenant Asset Management LLC Buys New Stake in Interactive Brokers Group, Inc. $IBKR

Covenant Asset Management LLC bought a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,811 shares of the financial services provider’s stock, valued at approximately $2,119,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nykredit A S purchased a new stake in shares of Interactive Brokers Group in the 2nd quarter worth about $15,348,000. Engineers Gate Manager LP boosted its stake in shares of Interactive Brokers Group by 831.3% during the 2nd quarter. Engineers Gate Manager LP now owns 108,359 shares of the financial services provider’s stock valued at $9,432,000 after purchasing an additional 96,724 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Interactive Brokers Group by 79.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 516,646 shares of the financial services provider’s stock valued at $48,185,000 after purchasing an additional 228,716 shares in the last quarter. AXQ Capital LP boosted its stake in shares of Interactive Brokers Group by 69.6% during the 2nd quarter. AXQ Capital LP now owns 45,065 shares of the financial services provider’s stock valued at $3,922,000 after purchasing an additional 18,499 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Interactive Brokers Group by 30.1% during the first quarter. Cetera Investment Advisers now owns 209,311 shares of the financial services provider’s stock valued at $14,038,000 after buying an additional 48,443 shares during the period. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

NASDAQ:IBKR opened at $84.14 on Thursday. Interactive Brokers Group, Inc. has a one year low of $58.95 and a one year high of $98.75. The company’s 50-day simple moving average is $90.43 and its 200 day simple moving average is $87.00. The firm has a market capitalization of $143.16 billion, a P/E ratio of 33.66, a PEG ratio of 1.55 and a beta of 1.37.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts expect that Interactive Brokers Group, Inc. will post 2.69 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

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

Interactive Brokers Group News Summary

Here are the key news stories impacting Interactive Brokers Group this week:

• Positive Sentiment: Analysts expect IBKR’s third-quarter results to benefit from robust customer trading, higher net interest income and continued client growth. However, rising operating expenses could limit earnings leverage. Increased Trading Activity, Higher NII Likely to Aid IBKR Q3 Earnings
• Positive Sentiment: The upcoming earnings report could exceed expectations if unusually active summer-market trading was not fully reflected in forecasts, providing a possible near-term upside catalyst. Interactive Brokers Group’s Next Earnings Report Tomorrow Could Send the Stock Soaring
• Positive Sentiment: IBKR launched cryptocurrency staking for eligible clients, expanding its digital-asset offering. The service, along with AI-enabled tools and global reach, could improve customer engagement and create additional revenue opportunities. Interactive Brokers Group Launches Cryptocurrency Staking
• Positive Sentiment: Evercore initiated coverage with an “outperform” rating and a $100 price target, implying meaningful upside from the referenced share price. IBKR was also included among fintech stocks positioned to benefit from digital payments, AI and expanding financial services. Evercore Initiates Coverage on Interactive Brokers Group
• Negative Sentiment: Investors may remain cautious because operating costs are increasing and the stock’s valuation leaves less room for disappointment. The recent pullback likely reflects elevated expectations ahead of earnings, despite broadly bullish analyst commentary.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IBKR. Capital One Financial set a $105.00 price target on shares of Interactive Brokers Group in a research note on Tuesday, October 6th. China Renaissance began coverage on shares of Interactive Brokers Group in a report on Tuesday, July 7th. They issued a “hold” rating and a $99.90 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $111.00 price objective on shares of Interactive Brokers Group in a research report on Thursday, October 1st. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Interactive Brokers Group in a report on Wednesday, September 2nd. Finally, Piper Sandler set a $109.00 target price on Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group presently has an average rating of “Moderate Buy” and a consensus target price of $103.18.

Interactive Brokers Group Company Profile

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.