Interactive Brokers Group (NASDAQ:IBKR) Shares Gap Down Following Weak Earnings

Interactive Brokers Group, Inc. (NASDAQ:IBKR) shares gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $152.98, but opened at $148.23. Interactive Brokers Group shares last traded at $148.73, with a volume of 1,041,754 shares trading hands.

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 7.88% and a return on equity of 4.88%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm posted $1.55 EPS.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.00 annualized dividend and a dividend yield of 0.67%. Interactive Brokers Group’s dividend payout ratio is presently 17.09%.

Analysts Set New Price Targets

IBKR has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $163.00 price target on shares of Interactive Brokers Group in a report on Wednesday. Barclays cut their price target on Interactive Brokers Group from $166.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group lifted their price target on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a report on Friday, October 4th. Keefe, Bruyette & Woods cut Interactive Brokers Group from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $128.00 to $135.00 in a report on Thursday, July 11th. Finally, UBS Group lifted their price target on Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Interactive Brokers Group currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Institutional Trading of Interactive Brokers Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its holdings in Interactive Brokers Group by 76.6% during the 2nd quarter. Tortoise Investment Management LLC now owns 256 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 111 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new position in shares of Interactive Brokers Group during the 2nd quarter worth about $32,000. Rise Advisors LLC acquired a new position in shares of Interactive Brokers Group during the 1st quarter worth about $30,000. UMB Bank n.a. raised its position in shares of Interactive Brokers Group by 350.0% in the 3rd quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 224 shares during the period. Finally, Kapitalo Investimentos Ltda raised its position in shares of Interactive Brokers Group by 278.0% in the 4th quarter. Kapitalo Investimentos Ltda now owns 480 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 353 shares during the period. 23.80% of the stock is owned by institutional investors.

Interactive Brokers Group Stock Performance

The firm has a market capitalization of $62.92 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 1.34 and a beta of 0.80. The business’s 50-day moving average is $132.12 and its two-hundred day moving average is $124.08.

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.