Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Up After Better-Than-Expected Earnings

Interactive Brokers Group, Inc. (NASDAQ:IBKR)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. 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 changing hands.

The financial services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.81 by $0.22. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.11%. 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 last year, the firm posted $1.52 earnings per share. Interactive Brokers Group’s revenue for the quarter was up 21.8% compared to the same quarter last year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, February 28th. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 14.16%.

Wall Street Analysts Forecast Growth

IBKR has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Interactive Brokers Group from $171.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. UBS Group lifted their target price on Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays boosted their target price on Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup boosted their target price on Interactive Brokers Group from $180.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Interactive Brokers Group in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.25.

Hedge Funds Weigh In On Interactive Brokers Group

A number of institutional investors have recently modified their holdings of IBKR. JPMorgan Chase & Co. boosted its position in shares of Interactive Brokers Group by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,017,082 shares of the financial services provider’s stock valued at $559,821,000 after purchasing an additional 11,379 shares in the last quarter. State Street Corp increased its position in shares of Interactive Brokers Group by 1.7% during the third quarter. State Street Corp now owns 3,222,135 shares of the financial services provider’s stock valued at $449,037,000 after acquiring an additional 52,911 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Interactive Brokers Group by 5.4% during the third quarter. Geode Capital Management LLC now owns 2,065,535 shares of the financial services provider’s stock valued at $287,921,000 after acquiring an additional 106,392 shares during the last quarter. FMR LLC grew its holdings in Interactive Brokers Group by 12.2% during the third quarter. FMR LLC now owns 1,094,598 shares of the financial services provider’s stock valued at $152,543,000 after purchasing an additional 119,187 shares during the period. Finally, Millennium Management LLC grew its holdings in Interactive Brokers Group by 1,292.1% during the second quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider’s stock valued at $132,655,000 after purchasing an additional 1,004,289 shares during the period. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Price Performance

The stock has a fifty day moving average price of $185.31 and a 200 day moving average price of $152.25. The stock has a market capitalization of $88.12 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 1.40 and a beta of 0.87.

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.