Elevation Point Wealth Partners LLC Has $1.25 Million Position in Interactive Brokers Group, Inc. $IBKR

Elevation Point Wealth Partners LLC raised its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 57.5% in the first quarter, HoldingsChannel.com reports. The firm owned 18,564 shares of the financial services provider’s stock after buying an additional 6,781 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Interactive Brokers Group were worth $1,245,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IBKR. AQR Capital Management LLC grew its holdings in shares of Interactive Brokers Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 13,704 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 2,713 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of Interactive Brokers Group by 307.9% in the 2nd quarter. Brown Advisory Inc. now owns 14,497 shares of the financial services provider’s stock worth $803,000 after acquiring an additional 10,943 shares during the last quarter. Cerity Partners LLC bought a new position in Interactive Brokers Group in the 2nd quarter valued at about $318,000. Daiwa Securities Group Inc. boosted its stake in Interactive Brokers Group by 291.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 35,600 shares of the financial services provider’s stock valued at $1,973,000 after purchasing an additional 26,500 shares during the last quarter. Finally, AXA S.A. increased its holdings in Interactive Brokers Group by 128.1% during the 2nd quarter. AXA S.A. now owns 12,816 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 7,197 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IBKR shares. The Goldman Sachs Group set a $98.00 target price on Interactive Brokers Group in a report on Friday, May 1st. BMO Capital Markets upped their price objective on Interactive Brokers Group from $80.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group lowered their target price on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Piper Sandler boosted their price target on shares of Interactive Brokers Group from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research started coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They set an “outperform” rating and a $101.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.38.

Insider Transactions at Interactive Brokers Group

In other Interactive Brokers Group news, Director Lawrence E. Harris sold 26,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $76.93, for a total value of $2,000,180.00. Following the completion of the transaction, the director directly owned 173,482 shares of the company’s stock, valued at $13,345,970.26. This trade represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by corporate insiders.

Interactive Brokers Group Stock Up 5.1%

Shares of NASDAQ IBKR opened at $95.99 on Tuesday. Interactive Brokers Group, Inc. has a 52 week low of $56.33 and a 52 week high of $97.84. The business has a 50-day simple moving average of $87.04 and a two-hundred day simple moving average of $76.73. The company has a market cap of $162.83 billion, a P/E ratio of 41.38, a P/E/G ratio of 2.52 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Tuesday, April 21st. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Interactive Brokers Group had a return on equity of 5.19% and a net margin of 9.65%.The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the firm earned $1.94 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, June 1st were issued a dividend of $0.0875 per share. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.35 dividend on an annualized basis and a yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 15.09%.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.