IG Group (LON:IGG) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

IG Group Holdings plc (LON:IGG)’s stock price passed 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 traded.

Wall Street Analyst Weigh In

IGG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 1,065 ($13.91) price target on shares of IG Group in a research report on Wednesday, August 14th. Royal Bank of Canada upped their target price on IG Group from GBX 1,000 ($13.06) to GBX 1,100 ($14.36) and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Shore Capital restated a “buy” rating on shares of IG Group in a research note on Thursday, July 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 986.75 ($12.89).

IG Group Price Performance

The firm has a market cap of £3.42 billion, a P/E ratio of 1,219.23, a price-to-earnings-growth 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 2.31 and a quick ratio of 2.40. The firm’s 50 day moving average is GBX 945.21 and its 200 day moving average is GBX 854.19.

IG Group Increases Dividend

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

Insider Activity at IG Group

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

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.