IG Group Holdings plc (LON:IGG) Given Average Recommendation of “Buy” by Analysts

Shares of IG Group Holdings plc (LON:IGG) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is GBX 985.40 ($12.58).

Several equities analysts have weighed in on IGG shares. Shore Capital reissued a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 1,065 ($13.60) price target on shares of IG Group in a research note on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of IG Group from GBX 1,000 ($12.77) to GBX 1,100 ($14.04) and gave the company an “outperform” rating in a report on Thursday, August 1st.

IG Group Stock Up 2.7 %

Shares of IGG traded up GBX 25 ($0.32) during trading hours on Wednesday, reaching GBX 955.50 ($12.20). 1,269,817 shares of the stock traded hands, compared to its average volume of 1,236,123. IG Group has a 52 week low of GBX 600.50 ($7.67) and a 52 week high of GBX 955.50 ($12.20). The company has a market cap of £3.52 billion, a price-to-earnings ratio of 1,225.00, a PEG ratio of -1.44 and a beta of 0.57. The stock has a fifty day simple moving average of GBX 851.89 and a 200 day simple moving average of GBX 775.83. The company has a current ratio of 2.31, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04.

IG Group Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be issued a GBX 32.64 ($0.42) dividend. This is a positive change from IG Group’s previous dividend of $13.56. The ex-dividend date is Thursday, September 19th. This represents a dividend yield of 3.86%. IG Group’s dividend payout ratio is presently 5,897.44%.

Insider Buying and Selling at IG Group

In other IG Group news, insider Charlie Rozes sold 23,088 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of GBX 910 ($11.62), for a total transaction of £210,100.80 ($268,259.45). Company insiders own 5.66% of the company’s stock.

About IG Group

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders 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 negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.