IG Group (LON:IGG) Stock Crosses Above Two Hundred Day Moving Average of $703.09

Shares of IG Group Holdings plc (LON:IGG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 703.09 ($8.75) and traded as high as GBX 727.50 ($9.06). IG Group shares last traded at GBX 720.50 ($8.97), with a volume of 1,405,058 shares traded.

Wall Street Analyst Weigh In

IGG has been the topic of several research analyst reports. Shore Capital restated a “buy” rating on shares of IG Group in a research note on Thursday, March 14th. Canaccord Genuity Group dropped their price target on IG Group from GBX 859 ($10.69) to GBX 782 ($9.73) and set a “buy” rating on the stock in a research note on Thursday, February 29th.

IG Group Trading Down 0.5 %

The firm has a market capitalization of £2.70 billion, a price-to-earnings ratio of 973.65, 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 company has a fifty day moving average price of GBX 714.62 and a 200-day moving average price of GBX 703.09.

IG Group Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 1st were issued a GBX 13.56 ($0.17) dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a yield of 1.75%. IG Group’s dividend payout ratio (DPR) is currently 6,216.22%.

Insider Buying and Selling

In other IG Group news, insider Robert Michael McTighe purchased 10,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of GBX 679 ($8.45) per share, with a total value of £67,900 ($84,526.33). Corporate insiders own 5.72% of the company’s stock.

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.