Shore Capital Reaffirms Buy Rating for IG Group (LON:IGG)

Shore Capital reaffirmed their buy rating on shares of IG Group (LON:IGGGet Rating) in a research note published on Monday morning, MarketBeat Ratings reports.

Separately, Barclays reiterated an overweight rating and issued a GBX 1,210 ($14.83) price objective on shares of IG Group in a research note on Friday, July 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of GBX 1,095 ($13.42).

IG Group Stock Performance

Shares of IGG stock opened at GBX 818 ($10.02) on Monday. The stock’s fifty day simple moving average is GBX 717.19 and its 200-day simple moving average is GBX 761.88. The company has a current ratio of 2.50, a quick ratio of 2.39 and a debt-to-equity ratio of 15.74. IG Group has a 1-year low of GBX 646.75 ($7.92) and a 1-year high of GBX 947.50 ($11.61). The company has a market capitalization of £3.52 billion and a price-to-earnings ratio of 889.13.

IG Group Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 20th. Shareholders of record on Thursday, September 22nd will be paid a dividend of GBX 31.24 ($0.38) per share. This represents a dividend yield of 4.28%. The ex-dividend date is Thursday, September 22nd. This is a boost from IG Group’s previous dividend of $12.96. IG Group’s payout ratio is presently 46.96%.

Insider Buying and Selling

In other IG Group news, insider Charlie Rozes sold 17,985 shares of the company’s stock in a transaction on Monday, July 4th. The shares were sold at an average price of GBX 683 ($8.37), for a total transaction of £122,837.55 ($150,517.77). In related news, insider Jonathan Moulds bought 100,000 shares of IG Group stock in a transaction dated Thursday, May 19th. The stock was purchased at an average cost of GBX 703 ($8.61) per share, with a total value of £703,000 ($861,414.04). Also, insider Charlie Rozes sold 17,985 shares of the firm’s stock in a transaction that occurred on Monday, July 4th. The stock was sold at an average price of GBX 683 ($8.37), for a total transaction of £122,837.55 ($150,517.77).

About IG Group

(Get Rating)

IG Group Holdings plc engages in the online trading business worldwide. The company offers Over-the-counter (OTC) leveraged derivatives, which include CFD (contracts for difference) that enable clients to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits and a limited risk account; and spread bets and options.

Further Reading

Analyst Recommendations for IG Group (LON:IGG)

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