Share Repurchase Program Declared by IG Group (LON:IGG) Board

IG Group (LON:IGG) declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 1st, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of IG Group in a research report on Tuesday, December 2nd. They issued a “buy” rating and a GBX 1,300 price objective on the stock. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, IG Group presently has a consensus rating of “Buy” and an average price target of GBX 1,302.

IG Group Stock Up 1.4%

LON IGG traded up GBX 20.25 during trading on Wednesday, reaching GBX 1,452.25. 725,560 shares of the company’s stock were exchanged, compared to its average volume of 4,222,494. The company has a 50 day moving average price of GBX 1,366.44 and a two-hundred day moving average price of GBX 1,233.54. The stock has a market cap of £4.86 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of -1.44 and a beta of 0.64. IG Group has a 1 year low of GBX 860 and a 1 year high of GBX 1,477. The company has a debt-to-equity ratio of 30.81, a quick ratio of 2.40 and a current ratio of 3.43.

IG Group (LON:IGG) last released its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 EPS for the quarter. IG Group had a return on equity of 20.91% and a net margin of 35.26%. On average, equities research analysts anticipate that IG Group will post 104.0295119 EPS for the current fiscal year.

About IG Group

IG Group (LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients. IG Group continues to innovate its offering for the new generation of tomorrow’s
investors through its IG, tastytrade, IG Prime, Spectrum, and DailyFX brands.

Established in 1974, IG Group is a London-headquartered FTSE 250 company offering its clients access to ~19,000
financial markets through its offices spread across Europe, North America, Africa, Asia-Pacific and the Middle East.