Zacks Investment Management Acquires New Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Zacks Investment Management acquired a new position in Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,908 shares of the financial services provider's stock, valued at approximately $4,725,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of Interactive Brokers Group by 1,292.1% in the 2nd quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider's stock worth $132,655,000 after buying an additional 1,004,289 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Interactive Brokers Group during the third quarter worth about $83,630,000. Marshall Wace LLP raised its position in Interactive Brokers Group by 23.8% in the second quarter. Marshall Wace LLP now owns 2,507,059 shares of the financial services provider's stock worth $307,365,000 after acquiring an additional 481,826 shares in the last quarter. Waverton Investment Management Ltd bought a new stake in Interactive Brokers Group in the third quarter worth about $26,946,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Interactive Brokers Group by 262.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 258,353 shares of the financial services provider's stock valued at $36,004,000 after acquiring an additional 187,010 shares during the last quarter. Institutional investors own 23.80% of the company's stock.

Analyst Ratings Changes

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

Interactive Brokers Group Price Performance

IBKR traded down $6.79 on Monday, reaching $180.17. 1,619,390 shares of the company traded hands, compared to its average volume of 1,019,944. The company has a market cap of $76.13 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.46 and a beta of 0.85. The stock's 50 day moving average price is $165.11 and its 200-day moving average price is $138.27. Interactive Brokers Group, Inc. has a 52-week low of $78.93 and a 52-week high of $193.42.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its quarterly 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). Interactive Brokers Group had a net margin of 7.89% and a return on equity of 4.83%. The company had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, equities research analysts forecast that Interactive Brokers Group, Inc. will post 6.82 earnings per share for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, November 29th. Interactive Brokers Group's dividend payout ratio (DPR) 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.