IG Group (LON:IGG) Hits New 12-Month High at $955.50

Shares of IG Group Holdings plc (LON:IGG) reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 955.50 ($12.20) and last traded at GBX 955.50 ($12.20), with a volume of 1269817 shares traded. The stock had previously closed at GBX 930.50 ($11.88).

Analyst Upgrades and Downgrades

A number of research firms recently commented on IGG. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 1,065 ($13.60) price objective on shares of IG Group in a report on Wednesday. Royal Bank of Canada increased their price objective on IG Group from GBX 1,000 ($12.77) to GBX 1,100 ($14.04) and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Shore Capital reiterated a “buy” rating on shares of IG Group in a research note on Thursday, July 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 985.40 ($12.58).

IG Group Trading Down 0.1 %

The company has a quick ratio of 2.40, a current ratio of 2.31 and a debt-to-equity ratio of 17.04. The firm has a market capitalization of £3.56 billion, a price-to-earnings ratio of 1,236.54, a price-to-earnings-growth ratio of -1.44 and a beta of 0.57. The business’s fifty day moving average is GBX 860.96 and its 200 day moving average is GBX 780.15.

IG Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be issued a GBX 32.64 ($0.42) dividend. This represents a dividend yield of 3.86%. The ex-dividend date is Thursday, September 19th. This is an increase from IG Group’s previous dividend of $13.56. IG Group’s dividend payout ratio is presently 5,897.44%.

Insider Activity

In related news, insider Charlie Rozes sold 23,088 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of GBX 910 ($11.62), for a total transaction of £210,100.80 ($268,259.45). Insiders own 5.66% of the company’s stock.

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.