IG Group Holdings plc (LON:IGG) Insider Buys £366,400 in Stock

IG Group Holdings plc (LON:IGG) insider Breon Corcoran bought 40,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was purchased at an average cost of GBX 916 ($12.27) per share, with a total value of £366,400 ($490,626.67).

IG Group Stock Down 0.1 %

Shares of LON IGG opened at GBX 912 ($12.21) on Thursday. The firm has a 50 day moving average price of GBX 935.72 and a 200 day moving average price of GBX 831.29. The company has a debt-to-equity ratio of 17.04, a quick ratio of 2.40 and a current ratio of 2.31. The stock has a market cap of £3.29 billion, a P/E ratio of 1,169.23, a P/E/G ratio of -1.44 and a beta of 0.55. IG Group Holdings plc has a 52-week low of GBX 600.50 ($8.04) and a 52-week high of GBX 995.25 ($13.33).

IG Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be given a GBX 32.64 ($0.44) dividend. The ex-dividend date is Thursday, September 19th. This represents a dividend yield of 3.86%. This is a boost from IG Group’s previous dividend of $13.56. IG Group’s dividend payout ratio is currently 5,897.44%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IGG shares. Royal Bank of Canada increased their price objective on shares of IG Group from GBX 1,000 ($13.39) to GBX 1,100 ($14.73) and gave the company an “outperform” rating in a report on Thursday, August 1st. Shore Capital reiterated a “buy” rating on shares of IG Group in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 1,065 ($14.26) price target on shares of IG Group in a research report on Wednesday, August 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 986.75 ($13.21).

IG Group Company Profile

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.