Bank of America Cuts Interactive Brokers Group (NASDAQ:IBKR) Price Target to $243.00

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) had its price objective lowered by Bank of America from $265.00 to $243.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Bank of America's target price would indicate a potential upside of 52.33% from the stock's current price.

IBKR has been the subject of several other research reports. UBS Group raised their target price on Interactive Brokers Group from $225.00 to $265.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Citigroup lowered their price objective on Interactive Brokers Group from $242.00 to $215.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. StockNews.com upgraded Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Thursday, April 10th. Keefe, Bruyette & Woods increased their price objective on Interactive Brokers Group from $190.00 to $195.00 and gave the stock a "market perform" rating in a report on Monday, January 13th. Finally, Piper Sandler decreased their price target on Interactive Brokers Group from $210.00 to $192.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $207.88.

Interactive Brokers Group Stock Up 1.0 %

Shares of NASDAQ:IBKR traded up $1.62 during trading on Wednesday, reaching $159.52. 2,278,383 shares of the company traded hands, compared to its average volume of 1,346,069. The firm has a market capitalization of $67.41 billion, a PE ratio of 22.59, a PEG ratio of 1.59 and a beta of 1.02. Interactive Brokers Group has a 52 week low of $103.69 and a 52 week high of $236.53. The company's 50 day moving average is $183.78 and its two-hundred day moving average is $181.29.

Shares of Interactive Brokers Group are scheduled to split on Wednesday, June 18th. The 4-1 split was announced on Tuesday, April 15th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, June 17th.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $1.92 by ($0.04). Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.37 billion. As a group, research analysts anticipate that Interactive Brokers Group will post 7.46 EPS for the current year.

Insider Buying and Selling

In other news, Director Jill Bright bought 135 shares of the company's stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $219.51 per share, for a total transaction of $29,633.85. Following the completion of the acquisition, the director now owns 2,476 shares in the company, valued at approximately $543,506.76. This trade represents a 5.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 2.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Interactive Brokers Group

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Interactive Brokers Group by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,017,082 shares of the financial services provider's stock worth $559,821,000 after purchasing an additional 11,379 shares in the last quarter. Cantillon Capital Management LLC raised its stake in Interactive Brokers Group by 0.5% during the fourth quarter. Cantillon Capital Management LLC now owns 3,395,690 shares of the financial services provider's stock valued at $599,917,000 after buying an additional 18,047 shares during the last quarter. Bank of America Corp DE boosted its holdings in Interactive Brokers Group by 91.4% in the fourth quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock worth $413,226,000 after acquiring an additional 1,117,186 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Interactive Brokers Group by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 2,259,032 shares of the financial services provider's stock worth $399,205,000 after acquiring an additional 193,497 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Interactive Brokers Group by 8,249.3% during the fourth quarter. Wellington Management Group LLP now owns 1,494,029 shares of the financial services provider's stock valued at $263,950,000 after acquiring an additional 1,476,135 shares in the last quarter. Institutional investors own 23.80% of the company's stock.

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.