HighTower Advisors LLC Purchases 29,257 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

HighTower Advisors LLC grew its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 67.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,636 shares of the financial services provider's stock after buying an additional 29,257 shares during the period. HighTower Advisors LLC's holdings in Interactive Brokers Group were worth $10,133,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Tortoise Investment Management LLC increased its stake in shares of Interactive Brokers Group by 76.6% during the second quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider's stock worth $31,000 after purchasing an additional 111 shares during the period. Fairfield Financial Advisors LTD bought a new position in shares of Interactive Brokers Group during the second quarter worth approximately $32,000. UMB Bank n.a. increased its stake in Interactive Brokers Group by 350.0% during the 3rd quarter. UMB Bank n.a. now owns 288 shares of the financial services provider's stock worth $40,000 after acquiring an additional 224 shares during the period. Smithfield Trust Co increased its stake in Interactive Brokers Group by 80.6% during the 3rd quarter. Smithfield Trust Co now owns 345 shares of the financial services provider's stock worth $48,000 after acquiring an additional 154 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in Interactive Brokers Group during the 3rd quarter worth $49,000. 23.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IBKR has been the topic of a number of recent research reports. UBS Group raised their price objective on Interactive Brokers Group from $155.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Barclays raised their price objective on Interactive Brokers Group from $165.00 to $214.00 and gave the stock an "overweight" rating in a research note on Monday. Piper Sandler restated an "overweight" rating and set a $163.00 price objective on shares of Interactive Brokers Group in a research note on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on Interactive Brokers Group from $171.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group lifted their price target on Interactive Brokers Group from $152.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $166.13.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR traded down $6.79 during mid-day trading on Monday, hitting $180.17. 1,619,390 shares of the stock traded hands, compared to its average volume of 1,019,944. Interactive Brokers Group, Inc. has a twelve month low of $78.93 and a twelve month high of $193.42. The company has a market cap of $76.13 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.85. The firm has a 50 day simple moving average of $165.92 and a two-hundred day simple moving average of $138.67.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $1.75 EPS for the quarter, missing the consensus estimate of $1.78 by ($0.03). The company had revenue of $2.45 billion for the quarter, compared to analyst estimates 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 firm posted $1.55 earnings per share. On average, equities research analysts anticipate that Interactive Brokers Group, Inc. will post 6.82 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, November 29th. Interactive Brokers Group's payout ratio is presently 15.27%.

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.