IG Group (LON:IGG) Stock Passes Above 200 Day Moving Average of $835.17

IG Group Holdings plc (LON:IGG)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 835.17 ($11.17) and traded as high as GBX 921 ($12.32). IG Group shares last traded at GBX 920.50 ($12.31), with a volume of 1,428,827 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on IGG. Royal Bank of Canada lifted their price objective on shares of IG Group from GBX 1,000 ($13.38) to GBX 1,100 ($14.71) and gave the company an “outperform” rating in a research note on Thursday, August 1st. Shore Capital reissued a “buy” rating on shares of IG Group in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 1,065 ($14.25) target price on shares of IG Group in a report on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 986.75 ($13.20).

IG Group Trading Up 0.2 %

The firm has a market cap of £3.33 billion, a P/E ratio of 1,180.13, a PEG ratio of -1.44 and a beta of 0.55. The company’s 50 day moving average is GBX 939.73 and its two-hundred day moving average is GBX 836.51. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.31 and a quick ratio of 2.40.

IG Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be issued a dividend of GBX 32.64 ($0.44) per share. This represents a dividend yield of 3.86%. The ex-dividend date is Thursday, September 19th. This is a positive change from IG Group’s previous dividend of $13.56. IG Group’s dividend payout ratio (DPR) is presently 5,897.44%.

Insider Activity

In other news, insider Breon Corcoran bought 40,000 shares of IG Group stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of GBX 916 ($12.25) per share, with a total value of £366,400 ($490,101.66). In related news, insider Breon Corcoran bought 40,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of GBX 916 ($12.25) per share, with a total value of £366,400 ($490,101.66). Also, insider Charlie Rozes sold 23,088 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of GBX 910 ($12.17), for a total transaction of £210,100.80 ($281,033.71). 4.42% of the stock is currently owned by company insiders.

About IG Group

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.