IG Group’s (IGG) Buy Rating Reaffirmed at Shore Capital

Shore Capital reaffirmed their buy rating on shares of IG Group (LON:IGG) in a report released on Thursday morning, Marketbeat.com reports.

Separately, Royal Bank of Canada lifted their price objective on IG Group from GBX 950 ($12.29) to GBX 1,000 ($12.93) and gave the company an outperform rating in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of GBX 940.50 ($12.16).

IG Group Trading Up 3.7 %

LON:IGG opened at GBX 934.50 ($12.09) on Thursday. IG Group has a 12-month low of GBX 600.50 ($7.77) and a 12-month high of GBX 934.50 ($12.09). The firm has a market cap of £3.49 billion, a PE ratio of 1,262.84, a price-to-earnings-growth ratio of -1.44 and a beta of 0.52. The company has a current ratio of 2.25, a quick ratio of 2.40 and a debt-to-equity ratio of 17.18. The stock has a fifty day moving average price of GBX 822.61 and a 200 day moving average price of GBX 762.40.

IG Group Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be paid a dividend of GBX 32.64 ($0.42) per share. The ex-dividend date is Thursday, September 19th. This represents a dividend yield of 3.86%. This is an increase from IG Group’s previous dividend of $13.56. IG Group’s payout ratio is presently 6,216.22%.

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.