Tortoise Investment Management LLC Increases Stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Tortoise Investment Management LLC increased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 75.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 510 shares of the financial services provider’s stock after purchasing an additional 220 shares during the period. Tortoise Investment Management LLC’s holdings in Interactive Brokers Group were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in IBKR. Farther Finance Advisors LLC boosted its position in Interactive Brokers Group by 305.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 810 shares of the financial services provider’s stock valued at $113,000 after buying an additional 610 shares during the period. Summit Global Investments purchased a new stake in Interactive Brokers Group during the 3rd quarter valued at $219,000. Atria Investments Inc boosted its position in Interactive Brokers Group by 1.6% during the 3rd quarter. Atria Investments Inc now owns 31,801 shares of the financial services provider’s stock valued at $4,432,000 after buying an additional 510 shares during the period. Sigma Planning Corp purchased a new stake in Interactive Brokers Group during the 3rd quarter valued at $225,000. Finally, Crossmark Global Holdings Inc. boosted its position in Interactive Brokers Group by 17.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,131 shares of the financial services provider’s stock valued at $1,133,000 after buying an additional 1,227 shares during the period. Hedge funds and other institutional investors own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IBKR shares. Citigroup increased their price target on shares of Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, January 10th. The Goldman Sachs Group increased their price target on shares of Interactive Brokers Group from $171.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a report on Monday, January 13th. UBS Group upped their price objective on shares of Interactive Brokers Group from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Barclays upped their price objective on shares of Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $204.13.

Interactive Brokers Group Price Performance

Shares of Interactive Brokers Group stock opened at $167.16 on Tuesday. The company has a 50-day moving average of $205.65 and a 200 day moving average of $174.23. The firm has a market cap of $70.63 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.59 and a beta of 0.99. Interactive Brokers Group, Inc. has a 1 year low of $103.69 and a 1 year high of $236.53.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.22. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. Interactive Brokers Group had a net margin of 9.25% and a return on equity of 5.00%. Interactive Brokers Group’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS. On average, equities analysts anticipate that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. Interactive Brokers Group’s payout ratio is 14.16%.

Insider Buying and Selling

In other Interactive Brokers Group news, Director Jill Bright purchased 135 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $219.51 per share, for a total transaction of $29,633.85. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.21% of the stock is owned by company insiders.

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.