IG Group Holdings plc (LON:IGG) Receives GBX 985.40 Average Price Target from Analysts

Shares of IG Group Holdings plc (LON:IGG) have been assigned a consensus rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is GBX 985.40 ($12.58).

IGG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,065 ($13.60) price objective on shares of IG Group in a research report on Wednesday, August 14th. Shore Capital reaffirmed a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Finally, Royal Bank of Canada upped their target price on IG Group from GBX 1,000 ($12.77) to GBX 1,100 ($14.04) and gave the stock an “outperform” rating in a report on Thursday, August 1st.

IG Group Price Performance

Shares of IGG stock opened at GBX 965.75 ($12.33) on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.31 and a debt-to-equity ratio of 17.04. IG Group has a twelve month low of GBX 600.50 ($7.67) and a twelve month high of GBX 970.50 ($12.39). The company has a market cap of £3.56 billion, a P/E ratio of 1,236.54, a P/E/G ratio of -1.44 and a beta of 0.57. The business has a fifty day simple moving average of GBX 860.96 and a 200 day simple moving average of GBX 781.19.

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 paid a GBX 32.64 ($0.42) dividend. 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 dividend yield of 3.86%. IG Group’s dividend payout ratio is presently 5,897.44%.

Insider Activity

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