State of New Jersey Common Pension Fund D Has $4.68 Million Holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

State of New Jersey Common Pension Fund D cut its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 32.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,140 shares of the financial services provider’s stock after selling 18,259 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Interactive Brokers Group were worth $4,676,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tortoise Investment Management LLC increased 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 valued at $31,000 after purchasing an additional 111 shares in the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Interactive Brokers Group by 1.8% in the 1st quarter. Oliver Luxxe Assets LLC now owns 7,047 shares of the financial services provider’s stock valued at $787,000 after buying an additional 126 shares during the period. QRG Capital Management Inc. increased its stake in shares of Interactive Brokers Group by 2.8% in the 2nd quarter. QRG Capital Management Inc. now owns 4,859 shares of the financial services provider’s stock valued at $596,000 after buying an additional 131 shares during the period. Thrive Wealth Management LLC increased its stake in shares of Interactive Brokers Group by 6.0% in the 2nd quarter. Thrive Wealth Management LLC now owns 2,333 shares of the financial services provider’s stock valued at $286,000 after buying an additional 132 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Interactive Brokers Group by 5.0% in the 2nd quarter. CIBC Asset Management Inc now owns 3,051 shares of the financial services provider’s stock valued at $374,000 after buying an additional 146 shares during the period. 23.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IBKR. Keefe, Bruyette & Woods cut Interactive Brokers Group from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $128.00 to $135.00 in a research note on Thursday, July 11th. Jefferies Financial Group raised their price target on Interactive Brokers Group from $138.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. UBS Group raised their price target on Interactive Brokers Group from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Barclays raised their price target on Interactive Brokers Group from $145.00 to $147.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.44.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $128.59 on Tuesday. The stock’s 50-day simple moving average is $121.59 and its 200 day simple moving average is $118.98. The company has a market cap of $54.15 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.10 and a beta of 0.80. Interactive Brokers Group, Inc. has a 52-week low of $72.60 and a 52-week high of $130.91.

Interactive Brokers Group (NASDAQ:IBKR) last released its earnings results on Tuesday, July 16th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Interactive Brokers Group had a return on equity of 4.88% and a net margin of 7.88%. Interactive Brokers Group’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. As a group, equities analysts predict that Interactive Brokers Group, Inc. will post 6.81 earnings per share for the current fiscal year.

Interactive Brokers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Friday, August 30th. Interactive Brokers Group’s dividend payout ratio (DPR) is presently 17.09%.

Interactive Brokers Group 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.