Fulton Bank N.A. Makes New Investment in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Fulton Bank N.A. acquired a new position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 1st quarter, Holdings Channel.com reports. The firm acquired 2,081 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other hedge funds have also recently bought and sold shares of IBKR. QRG Capital Management Inc. acquired a new stake in Interactive Brokers Group during the third quarter worth approximately $341,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Interactive Brokers Group in the third quarter valued at approximately $779,000. Envestnet Asset Management Inc. raised its position in shares of Interactive Brokers Group by 6.8% in the third quarter. Envestnet Asset Management Inc. now owns 280,808 shares of the financial services provider’s stock valued at $24,307,000 after buying an additional 17,969 shares in the last quarter. FMR LLC raised its position in shares of Interactive Brokers Group by 211.7% in the third quarter. FMR LLC now owns 1,773,533 shares of the financial services provider’s stock valued at $153,517,000 after buying an additional 1,204,573 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Interactive Brokers Group by 234.6% in the third quarter. Invesco Ltd. now owns 567,283 shares of the financial services provider’s stock valued at $49,104,000 after buying an additional 397,729 shares in the last quarter. 23.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IBKR. Jefferies Financial Group lifted their price target on shares of Interactive Brokers Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Citigroup lifted their price target on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Bank of America lifted their price target on shares of Interactive Brokers Group from $147.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Piper Sandler lifted their price target on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Barclays lifted their price target on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Interactive Brokers Group Price Performance

Shares of NASDAQ:IBKR opened at $120.18 on Friday. The company’s 50 day simple moving average is $120.56 and its 200 day simple moving average is $105.37. The stock has a market capitalization of $50.61 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.20 and a beta of 0.82. Interactive Brokers Group, Inc. has a 1 year low of $72.60 and a 1 year high of $129.19.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.01. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Interactive Brokers Group had a net margin of 7.62% and a return on equity of 4.72%. As a group, analysts anticipate that Interactive Brokers Group, Inc. will post 6.59 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, May 31st. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.10. Interactive Brokers Group’s payout ratio is presently 17.09%.

Interactive Brokers Group 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.