Sumitomo Life Insurance Co. Purchases 9,715 Shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR)

Sumitomo Life Insurance Co. raised its position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 174.8% during the fourth quarter, Holdings Channel reports. The firm owned 15,272 shares of the financial services provider’s stock after purchasing an additional 9,715 shares during the period. Sumitomo Life Insurance Co.’s holdings in Interactive Brokers Group were worth $2,698,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new stake in Interactive Brokers Group during the fourth quarter valued at $25,000. Versant Capital Management Inc increased its holdings in Interactive Brokers Group by 66.4% in the fourth quarter. Versant Capital Management Inc now owns 178 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Blue Trust Inc. lifted its stake in Interactive Brokers Group by 90.7% in the fourth quarter. Blue Trust Inc. now owns 185 shares of the financial services provider’s stock valued at $33,000 after buying an additional 88 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Interactive Brokers Group by 100.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 200 shares of the financial services provider’s stock worth $35,000 after buying an additional 100 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Interactive Brokers Group by 350.0% during the 3rd quarter. UMB Bank n.a. now owns 288 shares of the financial services provider’s stock worth $40,000 after buying an additional 224 shares during the period. 23.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Interactive Brokers Group in a report on Wednesday, January 22nd. Jefferies Financial Group raised their target price on Interactive Brokers Group from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays increased their price target on Interactive Brokers Group from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Citigroup boosted their price objective on Interactive Brokers Group from $180.00 to $220.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods increased their target price on Interactive Brokers Group from $190.00 to $195.00 and gave the stock a “market perform” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.13.

Interactive Brokers Group Trading Up 1.9 %

NASDAQ IBKR opened at $207.75 on Wednesday. The firm has a market capitalization of $87.78 billion, a P/E ratio of 29.43, a PEG ratio of 1.49 and a beta of 0.87. The business has a fifty day simple moving average of $186.96 and a 200 day simple moving average of $154.49. Interactive Brokers Group, Inc. has a 12 month low of $88.22 and a 12 month high of $220.66.

Interactive Brokers Group (NASDAQ:IBKR) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.22. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a return on equity of 5.00% and a net margin of 9.25%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, sell-side analysts predict that Interactive Brokers Group, Inc. will post 7.39 EPS for the current fiscal year.

Interactive Brokers Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, February 28th. Interactive Brokers Group’s dividend payout ratio is currently 14.16%.

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.