Pacific Excel Wealth Advisors Inc. Acquires New Stake in Interactive Brokers Group, Inc. $IBKR

Pacific Excel Wealth Advisors Inc. purchased a new stake in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the 2nd quarter, Holdings Channel reports. The fund purchased 6,491 shares of the financial services provider’s stock, valued at approximately $565,000.

Several other institutional investors have also added to or reduced their stakes in IBKR. State Street Corp raised its holdings in Interactive Brokers Group by 1.0% in the 4th quarter. State Street Corp now owns 18,836,521 shares of the financial services provider’s stock worth $1,211,377,000 after purchasing an additional 187,763 shares during the period. Cantillon Capital Management LLC raised its position in shares of Interactive Brokers Group by 0.8% during the 4th quarter. Cantillon Capital Management LLC now owns 12,759,904 shares of the financial services provider’s stock valued at $820,589,000 after purchasing an additional 95,878 shares during the period. Wellington Management Group LLP raised its position in shares of Interactive Brokers Group by 17.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,901,171 shares of the financial services provider’s stock valued at $750,110,000 after purchasing an additional 1,630,620 shares during the period. Orbis Allan Gray Ltd boosted its holdings in Interactive Brokers Group by 178.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock worth $539,697,000 after buying an additional 6,246,715 shares during the period. Finally, Invesco Ltd. raised its holdings in Interactive Brokers Group by 44.1% during the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock valued at $533,026,000 after acquiring an additional 2,534,772 shares during the period. 23.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Keefe, Bruyette & Woods began coverage on shares of Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price objective for the company. China Renaissance began coverage on shares of Interactive Brokers Group in a report on Tuesday, July 7th. They issued a “hold” rating for the company. Wolfe Research initiated coverage on shares of Interactive Brokers Group in a research report on Monday, June 8th. They issued an “outperform” rating and a $101.00 price target on the stock. Bank of America upped their price target on shares of Interactive Brokers Group from $83.00 to $106.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $110.00 price objective (up from $105.00) on shares of Interactive Brokers Group in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.89.

Interactive Brokers Group Stock Performance

NASDAQ IBKR opened at $88.63 on Wednesday. The business’s 50 day moving average price is $90.93 and its 200-day moving average price is $80.39. Interactive Brokers Group, Inc. has a fifty-two week low of $58.95 and a fifty-two week high of $97.84. The company has a market cap of $150.35 billion, a P/E ratio of 35.45, a P/E/G ratio of 1.62 and a beta of 1.34.

Interactive Brokers Group (NASDAQ:IBKR) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.80 billion. Interactive Brokers Group had a return on equity of 5.37% and a net margin of 9.94%.Interactive Brokers Group’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. As a group, equities analysts predict that Interactive Brokers Group, Inc. will post 2.69 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, September 1st will be issued a $0.0875 dividend. This represents a $0.35 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. Interactive Brokers Group’s dividend payout ratio (DPR) is 14.00%.

About Interactive Brokers Group

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.