IG Group (LON:IGG) Shares Cross Above Two Hundred Day Moving Average of $732.80

Shares of IG Group Holdings plc (LON:IGG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $732.80 and traded as high as $751.00. IG Group shares last traded at $738.50, with a volume of 820,024 shares trading hands.

IGG has been the topic of a number of research reports. Shore Capital reissued a “hold” rating and issued a GBX 810 ($9.97) target price (down previously from GBX 860 ($10.58)) on shares of IG Group in a research note on Thursday, July 23rd. Barclays reissued an “overweight” rating on shares of IG Group in a research note on Friday, July 24th. Liberum Capital reissued a “hold” rating on shares of IG Group in a research note on Friday, June 12th. Royal Bank of Canada reissued an “outperform” rating and issued a GBX 860 ($10.58) target price on shares of IG Group in a research note on Friday, June 5th. Finally, Peel Hunt reaffirmed a “buy” rating on shares of IG Group in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. IG Group presently has a consensus rating of “Buy” and an average price target of GBX 833 ($10.25).

The company has a market capitalization of $2.72 billion and a price-to-earnings ratio of 18.22. The company has a debt-to-equity ratio of 17.81, a quick ratio of 3.13 and a current ratio of 3.28. The company’s fifty day simple moving average is GBX 807.77 and its two-hundred day simple moving average is GBX 732.80.

The business also recently disclosed a dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, September 24th will be issued a dividend of GBX 30.24 ($0.37) per share. This is a positive change from IG Group’s previous dividend of $12.96. This represents a yield of 3.76%. The ex-dividend date of this dividend is Thursday, September 24th. IG Group’s dividend payout ratio (DPR) is currently 106.44%.

In related news, insider Robert Michael McTighe acquired 3,500 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was bought at an average cost of GBX 741 ($9.12) per share, with a total value of £25,935 ($31,916.07).

About IG Group (LON:IGG)

IG Group Holdings plc provides leveraged derivatives and spread betting under the IG brand worldwide. Its CFDs (contracts for difference) are derivatives contracts that enable clients to take advantage of changes in an asset's price. The company also offers clients access to a range of risk-mitigation measures, including stops and limits and a limited risk account; and products, such as share dealing and investment portfolios, as well as enables clients to hold their investments in ISAs and SIPPs.

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