Element Squared LLC Makes New Investment in Interactive Brokers Group, Inc. $IBKR

Element Squared LLC acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 31,696 shares of the financial services provider’s stock, valued at approximately $2,126,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new stake in shares of Interactive Brokers Group during the 4th quarter worth $26,000. IMA Advisory Services Inc. increased its position in shares of Interactive Brokers Group by 64.3% in the fourth 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 period. Tobam acquired a new position in Interactive Brokers Group in the fourth quarter valued at about $30,000. Entrust Financial LLC acquired a new position in Interactive Brokers Group in the fourth quarter valued at about $31,000. Finally, SHP Wealth Management bought a new stake in Interactive Brokers Group during the fourth quarter worth about $31,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Interactive Brokers Group Stock Performance

Shares of IBKR opened at $87.04 on Wednesday. Interactive Brokers Group, Inc. has a 52 week low of $53.14 and a 52 week high of $97.84. The stock has a market capitalization of $147.65 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 2.44 and a beta of 1.32. The stock has a fifty day moving average of $85.90 and a 200-day moving average of $75.91.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.69 billion. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.Interactive Brokers Group’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. As a group, equities analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

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

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the sale, the director directly owned 173,482 shares in the company, valued at approximately $13,345,970.26. The trade was a 13.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IBKR shares. Barclays increased their price objective on shares of Interactive Brokers Group from $85.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $98.00 target price on shares of Interactive Brokers Group in a research report on Friday, May 1st. BMO Capital Markets upped their price target on shares of Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Wolfe Research initiated coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 price target on the stock. Finally, Piper Sandler increased their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.22.

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.