Interactive Brokers Group (NASDAQ:IBKR) Now Covered by Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Interactive Brokers Group (NASDAQ:IBKR) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $102.00 price target on the financial services provider’s stock.

IBKR has been the topic of a number of other reports. Piper Sandler set a $109.00 target price on shares of Interactive Brokers Group in a report on Wednesday, July 22nd. Zacks Research lowered shares of Interactive Brokers Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 24th. UBS Group downgraded shares of Interactive Brokers Group from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $50.00 to $102.00 in a research report on Tuesday, September 1st. The Goldman Sachs Group reiterated a “buy” rating and set a $111.00 price objective on shares of Interactive Brokers Group in a research note on Thursday. Finally, Barclays set a $114.00 target price on shares of Interactive Brokers Group and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Interactive Brokers Group presently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Interactive Brokers Group Trading Up 2.9%

IBKR stock opened at $88.30 on Friday. The firm has a market cap of $150.23 billion, a P/E ratio of 35.32, a P/E/G ratio of 1.59 and a beta of 1.37. Interactive Brokers Group has a 12-month low of $58.95 and a 12-month high of $98.75. The stock’s 50 day simple moving average is $90.66 and its 200 day simple moving average is $85.74.

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 (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share. On average, research analysts forecast that Interactive Brokers Group will post 2.68 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.0875 per share. 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 currently 14.00%.

Institutional Trading of Interactive Brokers Group

Several hedge funds have recently bought and sold shares of IBKR. QRG Capital Management Inc. boosted its position in shares of Interactive Brokers Group by 13.4% during the second quarter. QRG Capital Management Inc. now owns 100,705 shares of the financial services provider’s stock worth $8,765,000 after buying an additional 11,906 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Interactive Brokers Group by 35.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 31,052 shares of the financial services provider’s stock valued at $2,703,000 after acquiring an additional 8,123 shares during the period. Security National Bank of SO Dak acquired a new stake in Interactive Brokers Group in the 2nd quarter valued at approximately $94,000. Sequoia Financial Advisors LLC raised its stake in Interactive Brokers Group by 38.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,304 shares of the financial services provider’s stock valued at $1,245,000 after acquiring an additional 3,966 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Interactive Brokers Group by 2.9% during the 2nd quarter. Tidal Investments LLC now owns 71,292 shares of the financial services provider’s stock valued at $6,205,000 after acquiring an additional 1,977 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors.

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.