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

Interactive Brokers Group (NASDAQ:IBKR) had its price target trimmed by Bank of America from $265.00 to $243.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group upped their target price on Interactive Brokers Group from $225.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a research note on Monday, January 13th. StockNews.com raised Interactive Brokers Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 10th. Piper Sandler decreased their target price on shares of 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. Finally, Barclays decreased their price target on Interactive Brokers Group from $231.00 to $188.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.88.

Interactive Brokers Group Price Performance

Shares of NASDAQ IBKR opened at $159.52 on Wednesday. The business has a 50-day moving average of $183.78 and a 200-day moving average of $181.29. Interactive Brokers Group has a 1-year low of $103.69 and a 1-year high of $236.53. The company has a market capitalization of $67.41 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.59 and a beta of 1.02.

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

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.04). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. Research analysts expect that Interactive Brokers Group will post 7.46 EPS for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.00 annualized dividend and a yield of 0.63%. Interactive Brokers Group’s dividend payout ratio is presently 14.16%.

Insider Buying and Selling at Interactive Brokers Group

In other news, Director Jill Bright purchased 135 shares of Interactive Brokers Group stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $219.51 per share, with a total value of $29,633.85. Following the transaction, the director now directly owns 2,476 shares in the company, valued at $543,506.76. The trade was a 5.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.99% of the company’s stock.

Hedge Funds Weigh In On Interactive Brokers Group

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in 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 valued at $559,821,000 after purchasing an additional 11,379 shares during the last quarter. Cantillon Capital Management LLC increased its holdings in shares of Interactive Brokers Group by 0.5% in 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 purchasing an additional 18,047 shares during the last quarter. Bank of America Corp DE raised its position in shares of 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 valued at $413,226,000 after purchasing an additional 1,117,186 shares during the period. Geode Capital Management LLC lifted its stake in shares of Interactive Brokers Group by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 2,259,032 shares of the financial services provider’s stock worth $399,205,000 after buying an additional 193,497 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Interactive Brokers Group by 8,249.3% during the 4th quarter. Wellington Management Group LLP now owns 1,494,029 shares of the financial services provider’s stock worth $263,950,000 after buying an additional 1,476,135 shares during the period. 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.