QRG Capital Management Inc. Raises Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

QRG Capital Management Inc. increased its stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 13.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,497 shares of the financial services provider’s stock after purchasing an additional 638 shares during the period. QRG Capital Management Inc.’s holdings in Interactive Brokers Group were worth $766,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IBKR. Millennium Management LLC increased its stake in Interactive Brokers Group by 1,292.1% in the 2nd quarter. Millennium Management LLC now owns 1,082,017 shares of the financial services provider’s stock worth $132,655,000 after acquiring an additional 1,004,289 shares during the last quarter. Marshall Wace LLP increased its stake in Interactive Brokers Group by 23.8% in the 2nd quarter. Marshall Wace LLP now owns 2,507,059 shares of the financial services provider’s stock worth $307,365,000 after acquiring an additional 481,826 shares during the last quarter. Bares Capital Management Inc. increased its stake in Interactive Brokers Group by 10.4% in the 1st quarter. Bares Capital Management Inc. now owns 2,810,131 shares of the financial services provider’s stock worth $313,920,000 after acquiring an additional 264,543 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Interactive Brokers Group by 262.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 258,353 shares of the financial services provider’s stock worth $36,004,000 after acquiring an additional 187,010 shares during the last quarter. Finally, Scout Investments Inc. bought a new position in Interactive Brokers Group in the 1st quarter worth about $18,335,000. 23.80% of the stock is currently owned by institutional investors.

Interactive Brokers Group Price Performance

IBKR opened at $169.74 on Friday. The stock’s 50 day simple moving average is $142.38 and its 200 day simple moving average is $128.92. Interactive Brokers Group, Inc. has a 1 year low of $72.60 and a 1 year high of $173.09. The firm has a market cap of $71.47 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.33 and a beta of 0.79.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.03). Interactive Brokers Group had a return on equity of 4.82% and a net margin of 7.89%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, sell-side analysts anticipate that Interactive Brokers Group, Inc. will post 6.9 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $1.00 annualized dividend and a yield of 0.59%. Interactive Brokers Group’s payout ratio is 15.27%.

Analysts Set New Price Targets

A number of brokerages have weighed in on IBKR. Piper Sandler restated an “overweight” rating and issued a $163.00 target price on shares of Interactive Brokers Group in a research note on Wednesday, October 16th. Jefferies Financial Group increased their price objective on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, October 4th. UBS Group increased their price objective on Interactive Brokers Group from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays reduced 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.