Breon Corcoran Purchases 40,000 Shares of IG Group Holdings plc (LON:IGG) Stock

IG Group Holdings plc (LON:IGG) insider Breon Corcoran purchased 40,000 shares of IG Group stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of GBX 916 ($12.10) per share, for a total transaction of £366,400 ($484,015.85).

IG Group Stock Performance

IGG stock traded up GBX 2 ($0.03) during midday trading on Monday, reaching GBX 914.50 ($12.08). The company had a trading volume of 1,256,464 shares, compared to its average volume of 1,885,947. The company has a quick ratio of 2.40, a current ratio of 2.31 and a debt-to-equity ratio of 17.04. The firm has a market capitalization of £3.30 billion, a PE ratio of 1,172.44, a P/E/G ratio of -1.44 and a beta of 0.55. IG Group Holdings plc has a fifty-two week low of GBX 600.50 ($7.93) and a fifty-two week high of GBX 995.25 ($13.15). The stock has a 50 day moving average price of GBX 931.80 and a 200 day moving average price of GBX 827.79.

IG Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a dividend of GBX 32.64 ($0.43) per share. 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. This represents a dividend yield of 3.86%. IG Group’s dividend payout ratio (DPR) is 5,897.44%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IGG shares. Shore Capital reaffirmed a “buy” rating on shares of IG Group in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of IG Group from GBX 1,000 ($13.21) to GBX 1,100 ($14.53) and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,065 ($14.07) price objective on shares of IG Group in a research report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 986.75 ($13.04).

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.