Lord Abbett & CO. LLC Makes New Investment in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Lord Abbett & CO. LLC purchased a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 180,000 shares of the financial services provider's stock, valued at approximately $25,085,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Townsquare Capital LLC raised its holdings in Interactive Brokers Group by 1.2% in the 3rd quarter. Townsquare Capital LLC now owns 5,456 shares of the financial services provider's stock valued at $760,000 after acquiring an additional 67 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Interactive Brokers Group by 0.3% in the third quarter. TD Private Client Wealth LLC now owns 19,797 shares of the financial services provider's stock valued at $2,759,000 after purchasing an additional 69 shares during the period. Prime Capital Investment Advisors LLC increased its position in Interactive Brokers Group by 3.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 2,746 shares of the financial services provider's stock worth $383,000 after purchasing an additional 97 shares during the last quarter. Boston Financial Mangement LLC increased its position in Interactive Brokers Group by 5.4% during the third quarter. Boston Financial Mangement LLC now owns 1,955 shares of the financial services provider's stock worth $272,000 after purchasing an additional 100 shares during the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in Interactive Brokers Group by 5.6% during the third quarter. First Citizens Bank & Trust Co. now owns 2,007 shares of the financial services provider's stock worth $280,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 23.80% of the company's stock.

Interactive Brokers Group Stock Up 0.4 %

NASDAQ:IBKR traded up $0.71 on Monday, reaching $180.20. 769,417 shares of the company's stock were exchanged, compared to its average volume of 1,019,337. The firm has a market capitalization of $76.14 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.42 and a beta of 0.85. The business has a fifty day moving average of $169.42 and a 200-day moving average of $140.47. Interactive Brokers Group, Inc. has a 52-week low of $80.00 and a 52-week high of $193.42.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.03). The business had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $1.32 billion. Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, equities analysts anticipate that Interactive Brokers Group, Inc. will post 6.82 earnings per share for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 29th. This represents a $1.00 annualized dividend and a yield of 0.55%. Interactive Brokers Group's payout ratio is 15.27%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Interactive Brokers Group from $171.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Piper Sandler reissued an "overweight" rating and set a $163.00 target price on shares of Interactive Brokers Group in a research note on Wednesday, October 16th. Barclays increased their price target on Interactive Brokers Group from $165.00 to $214.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Jefferies Financial Group boosted their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the company a "buy" rating in a report on Friday, October 4th. Finally, UBS Group upped their target price on shares of Interactive Brokers Group from $155.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $166.13.

About Interactive Brokers Group

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.