Interactive Brokers Group, Inc. (IBKR) Given New $48.00 Price Target at SunTrust Banks, Inc.
Interactive Brokers Group, Inc. (NASDAQ:IBKR) had its price objective hoisted by analysts at SunTrust Banks, Inc. to $48.00 in a research report issued on Wednesday. The brokerage presently has an “average” rating on the financial services provider’s stock. SunTrust Banks, Inc.’s price target indicates a potential upside of 1.27% from the company’s previous close.
Several other brokerages also recently issued reports on IBKR. Zacks Investment Research upgraded shares of Interactive Brokers Group from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, September 19th. BidaskClub upgraded shares of Interactive Brokers Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Rosenblatt Securities began coverage on shares of Interactive Brokers Group in a research note on Thursday, July 13th. They issued a “neutral” rating and a $40.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 target price on shares of Interactive Brokers Group in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $41.67.
Interactive Brokers Group (IBKR) opened at 47.40 on Wednesday. The company has a 50-day moving average of $44.11 and a 200 day moving average of $38.77. Interactive Brokers Group has a 12 month low of $31.97 and a 12 month high of $48.15. The company has a market cap of $3.39 billion, a PE ratio of 46.29 and a beta of 0.96.
Interactive Brokers Group (NASDAQ:IBKR) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.05). The firm had revenue of $387.00 million during the quarter, compared to the consensus estimate of $377.65 million. Interactive Brokers Group had a return on equity of 1.19% and a net margin of 4.97%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. On average, equities analysts forecast that Interactive Brokers Group will post $1.56 earnings per share for the current fiscal year.
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In other Interactive Brokers Group news, CFO Paul Jonathan Brody sold 11,310 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $40.42, for a total transaction of $457,150.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Earl H. Nemser sold 1,608 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $47.78, for a total transaction of $76,830.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,052,530 shares of company stock valued at $45,998,077. 3.41% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in IBKR. The Manufacturers Life Insurance Company increased its holdings in Interactive Brokers Group by 27.9% during the second quarter. The Manufacturers Life Insurance Company now owns 2,966 shares of the financial services provider’s stock valued at $111,000 after buying an additional 647 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Interactive Brokers Group by 71.9% during the second quarter. Riverhead Capital Management LLC now owns 3,095 shares of the financial services provider’s stock valued at $116,000 after buying an additional 1,295 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in Interactive Brokers Group during the first quarter valued at approximately $224,000. Hartford Investment Management Co. purchased a new stake in Interactive Brokers Group during the second quarter valued at approximately $239,000. Finally, Shelton Capital Management purchased a new stake in Interactive Brokers Group during the second quarter valued at approximately $253,000. 15.01% of the stock is owned by institutional investors and hedge funds.
About Interactive Brokers Group
Interactive Brokers Group, Inc (IBG, Inc) is a holding company. The Company is an automated global electronic broker and market maker specializing in routing orders, and executing and processing trades in securities, futures, foreign exchange instruments, bonds and mutual funds on over 120 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers.
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