Brokers Offer Predictions for Interactive Brokers Group, Inc.’s Q2 2024 Earnings (NASDAQ:IBKR)

Interactive Brokers Group, Inc. (NASDAQ:IBKR) – Research analysts at Zacks Research upped their Q2 2024 earnings per share estimates for shares of Interactive Brokers Group in a research note issued to investors on Tuesday, May 7th. Zacks Research analyst S. Shah now forecasts that the financial services provider will post earnings of $1.53 per share for the quarter, up from their prior estimate of $1.51. The consensus estimate for Interactive Brokers Group’s current full-year earnings is $6.46 per share. Zacks Research also issued estimates for Interactive Brokers Group’s Q3 2024 earnings at $1.53 EPS, Q4 2024 earnings at $1.51 EPS, FY2024 earnings at $6.20 EPS, Q1 2025 earnings at $1.54 EPS, Q2 2025 earnings at $1.45 EPS, FY2025 earnings at $5.87 EPS, Q1 2026 earnings at $1.47 EPS and FY2026 earnings at $5.69 EPS.

Several other research analysts have also commented on IBKR. Piper Sandler upped their price objective on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Bank of America increased their price target on shares of Interactive Brokers Group from $147.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Citigroup lifted their price objective on Interactive Brokers Group from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Barclays increased their target price on Interactive Brokers Group from $132.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group lifted their price target on Interactive Brokers Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Interactive Brokers Group Stock Performance

IBKR opened at $119.13 on Thursday. The stock has a market capitalization of $50.16 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.22 and a beta of 0.81. The stock’s 50 day moving average price is $112.34 and its 200-day moving average price is $95.95. Interactive Brokers Group has a 52-week low of $72.60 and a 52-week high of $122.88.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.01. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Interactive Brokers Group had a return on equity of 4.72% and a net margin of 7.62%.

Hedge Funds Weigh In On Interactive Brokers Group

Several hedge funds and other institutional investors have recently bought and sold shares of IBKR. AIA Group Ltd purchased a new stake in Interactive Brokers Group during the fourth quarter valued at $1,840,000. International Assets Investment Management LLC bought a new position in shares of Interactive Brokers Group in the 4th quarter worth approximately $7,841,000. Darwin Wealth Management LLC purchased a new position in shares of Interactive Brokers Group in the third quarter worth approximately $1,775,000. Lecap Asset Management Ltd. purchased a new position in shares of Interactive Brokers Group in the fourth quarter worth approximately $1,910,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Interactive Brokers Group by 93.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 35,170 shares of the financial services provider’s stock valued at $3,044,000 after buying an additional 16,996 shares during the period. Institutional investors own 23.80% of the company’s stock.

Insider Activity

In related news, Vice Chairman Earl H. Nemser sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $103.53, for a total value of $1,035,300.00. Following the completion of the transaction, the insider now directly owns 123,770 shares in the company, valued at approximately $12,813,908.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Vice Chairman Earl H. Nemser sold 5,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $104.86, for a total transaction of $524,300.00. Following the sale, the insider now directly owns 113,770 shares of the company’s stock, valued at $11,929,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Earl H. Nemser sold 10,000 shares of Interactive Brokers Group stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the completion of the sale, the insider now owns 123,770 shares of the company’s stock, valued at $12,813,908.10. The disclosure for this sale can be found here. Insiders have sold a total of 65,000 shares of company stock worth $6,613,100 over the last 90 days. 3.21% of the stock is currently owned by insiders.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, May 31st. This is an increase from Interactive Brokers Group’s previous quarterly dividend of $0.10. Interactive Brokers Group’s dividend payout ratio is currently 17.09%.

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.