Sumitomo Mitsui Trust Group Inc. Buys New Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 600,104 shares of the financial services provider’s stock, valued at approximately $83,630,000.

A number of other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new position in Interactive Brokers Group during the first quarter valued at approximately $327,000. QRG Capital Management Inc. increased its position in Interactive Brokers Group by 12.5% in the first quarter. QRG Capital Management Inc. now owns 4,728 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 525 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in Interactive Brokers Group during the first quarter valued at $236,000. Koshinski Asset Management Inc. purchased a new position in shares of Interactive Brokers Group in the 1st quarter worth $370,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Interactive Brokers Group by 1.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 96,395 shares of the financial services provider’s stock worth $10,768,000 after buying an additional 1,164 shares during the last quarter. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Down 0.4 %

Shares of Interactive Brokers Group stock opened at $177.90 on Friday. Interactive Brokers Group, Inc. has a 12 month low of $72.60 and a 12 month high of $181.21. The stock’s fifty day moving average price is $146.54 and its 200-day moving average price is $130.57. The firm has a market cap of $74.91 billion, a P/E ratio of 27.16, a P/E/G ratio of 1.41 and a beta of 0.79.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly 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). Interactive Brokers Group had a return on equity of 4.83% and a net margin of 7.89%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company posted $1.55 EPS. Analysts forecast that Interactive Brokers Group, Inc. will post 6.82 earnings per share for the current year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.00 annualized dividend and a yield of 0.56%. Interactive Brokers Group’s dividend payout ratio (DPR) is 15.27%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IBKR shares. Jefferies Financial Group raised their price objective on shares of Interactive Brokers Group from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. 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. Barclays cut their price objective on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, UBS Group boosted 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 note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

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.