IG Group (LON:IGG) Share Price Passes Above 200-Day Moving Average of $806.40

IG Group Holdings plc (LON:IGG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 806.40 ($10.60) and traded as high as GBX 970.70 ($12.76). IG Group shares last traded at GBX 966.50 ($12.71), with a volume of 776,236 shares.

Analyst Upgrades and Downgrades

IGG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 1,065 ($14.00) target price on shares of IG Group in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their price target on shares of IG Group from GBX 1,000 ($13.15) to GBX 1,100 ($14.46) and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Shore Capital reaffirmed a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 985.40 ($12.96).

IG Group Price Performance

The business’s fifty day simple moving average is GBX 906.64 and its 200-day simple moving average is GBX 807.45. The company has a current ratio of 2.31, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. The firm has a market cap of £3.48 billion, a P/E ratio of 1,232.69, a PEG ratio of -1.44 and a beta of 0.55.

IG Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be issued a dividend of GBX 32.64 ($0.43) per share. This is a boost from IG Group’s previous dividend of $13.56. The ex-dividend date of this dividend is Thursday, September 19th. This represents a yield of 3.86%. IG Group’s 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 business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of GBX 910 ($11.97), for a total transaction of £210,100.80 ($276,266.67). Insiders own 4.32% of the company’s stock.

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.