Interactive Brokers Group, Inc. (IBKR) Releases Earnings Results, Beats Expectations By $0.06 EPS
Interactive Brokers Group, Inc. (NASDAQ:IBKR) issued its earnings results on Tuesday. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06, Briefing.com reports. The company had revenue of $426.00 million for the quarter, compared to analysts’ expectations of $382.85 million. Interactive Brokers Group had a net margin of 4.97% and a return on equity of 1.19%. Interactive Brokers Group’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS.
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In related news, Vice Chairman Earl H. Nemser sold 1,657 shares of the business’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 $66,975.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Aj Frank sold 16,580 shares of the business’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 $670,163.60. The disclosure for this sale can be found here. In the last three months, insiders sold 1,052,530 shares of company stock worth $45,998,077. Insiders own 3.41% of the company’s stock.
An institutional investor recently raised its position in Interactive Brokers Group stock. The Manufacturers Life Insurance Company increased its holdings in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 27.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,966 shares of the financial services provider’s stock after purchasing an additional 647 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Interactive Brokers Group were worth $111,000 as of its most recent SEC filing. 15.01% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. SunTrust Banks, Inc. upped their target price on shares of Interactive Brokers Group to $48.00 and gave the company an “average” rating in a report on Wednesday. Zacks Investment Research raised 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 report on Tuesday, September 19th. BidaskClub raised shares of Interactive Brokers Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Finally, Rosenblatt Securities assumed coverage on shares of Interactive Brokers Group in a report on Thursday, July 13th. They issued a “neutral” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $41.67.
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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