IG Group (LON:IGG) Stock Price Passes Above 200 Day Moving Average of $767.99

IG Group Holdings plc (LON:IGGGet Rating)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 767.99 ($9.28) and traded as high as GBX 771.35 ($9.32). IG Group shares last traded at GBX 757 ($9.15), with a volume of 2,193,023 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IGG shares. Shore Capital reiterated a “buy” rating on shares of IG Group in a research note on Thursday, September 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 1,000 ($12.08) price target on shares of IG Group in a research report on Friday, August 5th. Finally, Barclays reissued an “overweight” rating and issued a GBX 1,210 ($14.62) price objective on shares of IG Group in a research note on Friday, July 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,070 ($12.93).

IG Group Price Performance

The business’s 50 day moving average price is GBX 800.18 and its two-hundred day moving average price is GBX 767.99. The stock has a market cap of £3.24 billion and a P/E ratio of 822.83. The company has a current ratio of 2.50, a quick ratio of 2.40 and a debt-to-equity ratio of 15.74.

IG Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, October 20th. Stockholders of record on Thursday, September 22nd will be issued a dividend of GBX 31.24 ($0.38) per share. This represents a dividend yield of 4.28%. This is a boost from IG Group’s previous dividend of $12.96. The ex-dividend date is Thursday, September 22nd. IG Group’s payout ratio is presently 46.96%.

Insider Activity at IG Group

In other news, insider Charlie Rozes sold 17,985 shares of the stock in a transaction on Monday, July 4th. The shares were sold at an average price of GBX 683 ($8.25), for a total value of £122,837.55 ($148,426.23). In other IG Group news, insider Charlie Rozes sold 17,985 shares of the firm’s stock in a transaction that occurred on Monday, July 4th. The shares were sold at an average price of GBX 683 ($8.25), for a total transaction of £122,837.55 ($148,426.23). Also, insider Jon Noble sold 56,998 shares of IG Group stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of GBX 814 ($9.84), for a total transaction of £463,963.72 ($560,613.48).

IG Group Company Profile

(Get Rating)

IG Group Holdings plc engages in the online trading business worldwide. The company offers over-the-counter (OTC) leveraged 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 spread bets and options.

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