IG Group (LON:IGG) Insider Clifford Abrahams Purchases 5,000 Shares of Stock

IG Group Holdings plc (LON:IGG) insider Clifford Abrahams acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was purchased at an average price of GBX 1,072 per share, with a total value of £53,600.

IG Group Trading Down 0.8%

Shares of IGG opened at GBX 1,067.92 on Thursday. The firm’s 50 day simple moving average is GBX 1,122.93 and its 200 day simple moving average is GBX 1,072.38. The company has a market capitalization of £3.72 billion, a P/E ratio of 1,016.09, a P/E/G ratio of -1.44 and a beta of 0.55. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. IG Group Holdings plc has a 1-year low of GBX 860 and a 1-year high of GBX 1,165.

IG Group (LON:IGG) last announced its earnings results on Thursday, July 24th. The company reported GBX 114.10 earnings per share for the quarter. IG Group had a net margin of 58.42% and a return on equity of 30.53%. Sell-side analysts forecast that IG Group Holdings plc will post 104.0295119 earnings per share for the current fiscal year.

IG Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 4th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the company an “outperform” rating in a research note on Thursday, August 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,250 target price on shares of IG Group in a research note on Friday, September 26th. Shore Capital reaffirmed a “buy” rating and issued a GBX 1,250 target price on shares of IG Group in a research note on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of IG Group from GBX 1,225 to GBX 1,350 and gave the company a “buy” rating in a research note on Friday, August 8th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of GBX 1,470.67.

About IG Group

IG Group (LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients.