Summit Financial LLC Purchases New Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Summit Financial LLC acquired a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,454 shares of the financial services provider’s stock, valued at approximately $257,000.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC lifted its stake in shares of Interactive Brokers Group by 60.2% during the third quarter. Cerity Partners LLC now owns 3,051 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 1,146 shares during the period. Benjamin Edwards Inc. lifted its position in Interactive Brokers Group by 487.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,931 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 2,432 shares during the period. HighTower Advisors LLC lifted its position in Interactive Brokers Group by 67.4% during the 3rd quarter. HighTower Advisors LLC now owns 72,636 shares of the financial services provider’s stock valued at $10,133,000 after purchasing an additional 29,257 shares during the period. Quantinno Capital Management LP grew its position in shares of Interactive Brokers Group by 82.3% during the 3rd quarter. Quantinno Capital Management LP now owns 3,167 shares of the financial services provider’s stock worth $441,000 after buying an additional 1,430 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of Interactive Brokers Group during the third quarter worth approximately $1,483,000. Institutional investors and hedge funds own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

NASDAQ IBKR opened at $146.08 on Friday. Interactive Brokers Group, Inc. has a 52-week low of $103.69 and a 52-week high of $236.53. The business has a 50 day simple moving average of $197.90 and a 200 day simple moving average of $179.41. The stock has a market cap of $61.73 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.59 and a beta of 0.99.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.22. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business posted $1.52 earnings per share. On average, analysts predict that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.68%. Interactive Brokers Group’s payout ratio is presently 14.16%.

Insider Activity at Interactive Brokers Group

In other Interactive Brokers Group news, Director Jill Bright acquired 135 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $219.51 per share, with a total value of $29,633.85. Following the completion of the transaction, the director now directly owns 2,476 shares in the company, valued at $543,506.76. This trade represents a 5.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IBKR. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Interactive Brokers Group in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Monday, January 13th. Barclays increased their target price on Interactive Brokers Group from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup decreased their target price on Interactive Brokers Group from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded shares of Interactive Brokers Group from a “hold” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

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.