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

IG Group Holdings plc (LON:IGGGet Rating)’s share price crossed 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.

Wall Street Analysts Forecast Growth

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

IG Group Stock Performance

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

IG Group Increases Dividend

The firm also recently announced 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 is a positive change from IG Group’s previous dividend of $12.96. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a dividend yield of 4.28%. IG Group’s dividend payout ratio is presently 46.96%.

Insider Activity at IG Group

In other IG Group news, insider Charlie Rozes sold 17,985 shares of the company’s stock in a transaction dated 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 related 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 value of £122,837.55 ($148,426.23). Also, insider Jon Noble sold 56,998 shares of the 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).

About IG Group

(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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