IG Group (LON:IGG) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

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 851.98 ($11.13) and traded as high as GBX 945.50 ($12.35). IG Group shares last traded at GBX 945.50 ($12.35), with a volume of 576,259 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IGG shares. Royal Bank of Canada lifted their target price on shares of IG Group from GBX 1,000 ($13.06) to GBX 1,100 ($14.36) and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Shore Capital reiterated a “buy” rating on shares of IG Group in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,065 ($13.91) target price on shares of IG Group in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of GBX 986.75 ($12.89).

IG Group Price Performance

The business’s 50 day moving average is GBX 945.21 and its two-hundred day moving average is GBX 854.19. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.31 and a quick ratio of 2.40. The firm has a market capitalization of £3.42 billion, a PE ratio of 1,219.23, a P/E/G ratio of -1.44 and a beta of 0.55.

IG Group Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th were paid a dividend of GBX 32.64 ($0.43) per share. The ex-dividend date was Thursday, September 19th. This represents a yield of 3.86%. This is a positive change from IG Group’s previous dividend of $13.56. IG Group’s payout ratio is 5,897.44%.

Insider Activity

In other IG Group news, insider Breon Corcoran bought 40,000 shares of IG Group stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of GBX 916 ($11.96) per share, with a total value of £366,400 ($478,453.90). In other IG Group news, insider Charlie Rozes sold 23,088 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of GBX 910 ($11.88), for a total transaction of £210,100.80 ($274,354.66). Also, insider Breon Corcoran acquired 40,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of GBX 916 ($11.96) per share, with a total value of £366,400 ($478,453.90). Corporate insiders own 4.44% of the company’s stock.

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.