IG Group (LON:IGG) Share 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 traded.

Analyst Ratings Changes

Several research firms have recently weighed in on IGG. Shore Capital reaffirmed a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Royal Bank of Canada upped 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, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 1,065 ($14.00) target price on shares of IG Group in a research report on Wednesday, August 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 985.40 ($12.96).

IG Group Price Performance

The firm’s 50-day moving average is GBX 906.64 and its 200-day moving average is GBX 807.45. The company has a market capitalization of £3.48 billion, a PE ratio of 1,232.69, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. 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 Increases Dividend

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

Insider Buying and Selling at IG Group

In other news, insider Charlie Rozes sold 23,088 shares of the company’s stock in a transaction dated 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). Company insiders own 4.32% of the company’s stock.

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.