Norden Group LLC Purchases 96,791 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Norden Group LLC grew its position in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 1,272.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 104,400 shares of the financial services provider’s stock after acquiring an additional 96,791 shares during the quarter. Norden Group LLC’s holdings in Interactive Brokers Group were worth $11,662,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. AIA Group Ltd bought a new stake in Interactive Brokers Group during the fourth quarter worth approximately $1,840,000. International Assets Investment Management LLC bought a new stake in Interactive Brokers Group in the fourth quarter worth $7,841,000. Teachers Retirement System of The State of Kentucky boosted its stake 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 worth $3,044,000 after buying an additional 16,996 shares during the period. Lecap Asset Management Ltd. purchased a new position in Interactive Brokers Group during the fourth quarter worth $1,910,000. Finally, TimesSquare Capital Management LLC increased its position in Interactive Brokers Group by 6.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 808,806 shares of the financial services provider’s stock valued at $67,050,000 after acquiring an additional 50,035 shares during the last quarter. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Trading Down 1.7 %

Shares of IBKR stock opened at $125.53 on Thursday. Interactive Brokers Group, Inc. has a twelve month low of $72.60 and a twelve month high of $129.19. The stock has a fifty day simple moving average of $122.57 and a two-hundred day simple moving average of $107.92. The stock has a market capitalization of $52.86 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.25 and a beta of 0.81.

Interactive Brokers Group (NASDAQ:IBKR) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.01. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Interactive Brokers Group had a net margin of 7.62% and a return on equity of 4.72%. Research analysts predict that Interactive Brokers Group, Inc. will post 6.68 EPS for the current fiscal year.

Interactive Brokers Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, May 31st. This is a positive change from Interactive Brokers Group’s previous quarterly dividend of $0.10. Interactive Brokers Group’s payout ratio is 17.09%.

Wall Street Analysts Forecast Growth

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

Interactive Brokers Group Company Profile

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.