Interactive Brokers Group Inc. (NASDAQ:IBKR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Interactive Brokers’ Electronic Brokerage segment witnessed a decline in its August monthly metrics on a year-over-year basis. Further, the company’s dependence on Market Making segment for dividend payments remains a matter of concern, given the dismal performance of the same over the last few quarters. Also, intensifying competitive environment is likely to keep the company’s near-term profitability under pressure. Nonetheless, the company seems well positioned to capitalize on the available opportunities on the back of its better-than-peer positioning, adoption of technology and optimization of resource allocation in global electronic networks.”
Shares of Interactive Brokers Group (NASDAQ:IBKR) opened at 36.04 on Tuesday. The company has a market cap of $2.42 billion, a P/E ratio of 23.88 and a beta of 0.94. The company’s 50 day moving average is $35.40 and its 200-day moving average is $37.06. Interactive Brokers Group has a 12 month low of $29.50 and a 12 month high of $44.85.
Interactive Brokers Group (NASDAQ:IBKR) last posted its earnings results on Tuesday, July 19th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company earned $369 million during the quarter, compared to the consensus estimate of $373.43 million. Interactive Brokers Group had a net margin of 6.35% and a return on equity of 1.80%. Analysts expect that Interactive Brokers Group will post $1.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Thursday, September 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Tuesday, August 30th. Interactive Brokers Group’s dividend payout ratio is 26.49%.
Hedge funds have recently bought and sold shares of the company. AMP Capital Investors Ltd increased its stake in Interactive Brokers Group by 70.0% in the first quarter. AMP Capital Investors Ltd now owns 84,500 shares of the company’s stock valued at $3,314,000 after buying an additional 34,804 shares in the last quarter. Geode Capital Management LLC increased its stake in Interactive Brokers Group by 1.6% in the first quarter. Geode Capital Management LLC now owns 366,583 shares of the company’s stock valued at $14,414,000 after buying an additional 5,933 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Interactive Brokers Group by 49.3% in the first quarter. Rafferty Asset Management LLC now owns 7,605 shares of the company’s stock valued at $299,000 after buying an additional 2,511 shares in the last quarter. State Street Corp increased its stake in Interactive Brokers Group by 1.2% in the first quarter. State Street Corp now owns 847,187 shares of the company’s stock valued at $33,313,000 after buying an additional 10,173 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in Interactive Brokers Group during the first quarter valued at about $1,802,000. 84.67% of the stock is owned by institutional investors.
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 100 electronic exchanges and trading venues around the world.
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