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

IG Group Holdings plc (LON:IGG)’s share price 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 changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Royal Bank of Canada lifted their target price 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 research report on Thursday, August 1st. Shore Capital reiterated a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,065 ($14.00) target price on shares of IG Group in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, IG Group currently has an average rating of “Buy” and a consensus price target of GBX 985.40 ($12.96).

IG Group Trading Up 0.5 %

The company has a quick ratio of 2.40, a current ratio of 2.31 and a debt-to-equity ratio of 17.04. The company has a market capitalization of £3.52 billion, a PE ratio of 1,239.10, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. The stock’s fifty day moving average price is GBX 903.88 and its two-hundred day moving average price is GBX 806.40.

IG Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a GBX 32.64 ($0.43) dividend. This is a positive change from IG Group’s previous dividend of $13.56. This represents a dividend yield of 3.86%. The ex-dividend date is Thursday, September 19th. IG Group’s dividend payout ratio (DPR) is currently 5,897.44%.

Insider Activity at IG Group

In related news, insider Charlie Rozes sold 23,088 shares of IG Group stock in a transaction on Friday, July 26th. The shares were sold at an average price of GBX 910 ($11.97), for a total value of £210,100.80 ($276,266.67). 4.32% of the stock is owned by corporate insiders.

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.