Bank of America Boosts Interactive Brokers Group (NASDAQ:IBKR) Price Target to $152.00

Interactive Brokers Group (NASDAQ:IBKR) had its target price hoisted by research analysts at Bank of America from $147.00 to $152.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price points to a potential upside of 38.74% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Barclays raised their price target on shares of Interactive Brokers Group from $132.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Interactive Brokers Group from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Piper Sandler raised their price objective on shares of Interactive Brokers Group from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. The Goldman Sachs Group raised shares of Interactive Brokers Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $88.00 to $102.00 in a report on Tuesday, January 9th. Finally, UBS Group cut their price target on shares of Interactive Brokers Group from $108.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, January 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR traded up $2.17 on Wednesday, hitting $109.56. The stock had a trading volume of 1,908,744 shares, compared to its average volume of 1,184,651. The stock has a market cap of $46.13 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.24 and a beta of 0.83. Interactive Brokers Group has a 1 year low of $70.83 and a 1 year high of $116.92. The firm’s fifty day simple moving average is $107.89 and its two-hundred day simple moving average is $92.43.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Interactive Brokers Group had a return on equity of 4.66% and a net margin of 7.72%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities research analysts predict that Interactive Brokers Group will post 6.36 EPS for the current year.

Insider Activity

In other news, Vice Chairman Earl H. Nemser sold 74,218 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the sale, the insider now owns 234,552 shares in the company, valued at approximately $22,585,012.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Vice Chairman Earl H. Nemser sold 5,000 shares of Interactive Brokers Group stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $104.86, for a total value of $524,300.00. Following the transaction, the insider now owns 113,770 shares in the company, valued at approximately $11,929,922.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Earl H. Nemser sold 74,218 shares of Interactive Brokers Group stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $96.29, for a total transaction of $7,146,451.22. Following the completion of the transaction, the insider now owns 234,552 shares in the company, valued at approximately $22,585,012.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 441,800 shares of company stock worth $41,540,615. 3.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interactive Brokers Group

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in shares of Interactive Brokers Group in the fourth quarter valued at about $7,841,000. Darwin Wealth Management LLC purchased a new position in shares of Interactive Brokers Group in the third quarter valued at about $1,775,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Interactive Brokers Group by 93.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 35,170 shares of the financial services provider’s stock valued at $3,044,000 after acquiring an additional 16,996 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of Interactive Brokers Group in the fourth quarter valued at about $1,910,000. Finally, Ellsworth Advisors LLC purchased a new position in shares of Interactive Brokers Group in the fourth quarter valued at about $4,148,000. Hedge funds and other institutional investors own 23.80% of the company’s stock.

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.