IBG, Inc.(US:IBKR) ZACKSยท2024-09-04 15:41Core Insights - Interactive Brokers Group, Inc. (IBKR) reported strong performance metrics for its Electronic Brokerage segment in August 2024, highlighting a significant increase in client Daily Average Revenue Trades (DARTs) [1] Performance Metrics - Total client DARTs for August reached 2,712,000, marking a 40.4% increase from August 2023 but a 1.6% decrease from July 2024 [2] - Cleared Average DARTs per customer account was 198 for August 2024, up 7.6% year-over-year but down 3.9% from July 2024 [2] - Total customer accounts grew by 29.3% year-over-year and 2.2% month-over-month to 3.1 million, with net new accounts increasing by 58.4% from August 2023 but declining 6.6% sequentially [2] Options and Futures Contracts - Total options contracts traded in August 2024 were 111.7 million, up 22.6% year-over-year but down 5.8% from the previous month [2] - Futures contracts increased by 8.4% year-over-year and 5.4% month-over-month to 20.1 million [2] Client Equity and Balances - Client equity at the end of August 2024 was $515.3 billion, reflecting a 36.5% year-over-year growth and a 1.1% increase from July 2024 [3] - Client credit balances stood at $112.1 billion, up 13.2% from August 2023 and 2.7% from July 2024 [3] - Customer margin loan balance was $54.9 billion, increasing 30.4% year-over-year but decreasing 2.1% from the last month [3] Stock Performance - Year-to-date, IBKR shares have surged 53.7%, significantly outperforming the industry growth of 16.7% [4] - IBKR currently holds a Zacks Rank 1 (Strong Buy), indicating strong market performance [4] - Comparatively, The Charles Schwab Corporation (SCHW) and LPL Financial Holdings Inc. (LPLA) are expected to release their monthly performance metrics soon, with SCHW holding a Zacks Rank 4 (Sell) and LPLA a Zacks Rank 3 (Hold) [4]