IG Group Holdings plc (LON:IGG) Receives Consensus Rating of “Buy” from Analysts

Shares of IG Group Holdings plc (LON:IGG) have been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is GBX 1,309.14.

Several brokerages recently issued reports on IGG. Shore Capital reissued a “buy” rating and set a GBX 1,250 price target on shares of IG Group in a report on Thursday, September 25th. Peel Hunt reiterated a “buy” rating and issued a GBX 340 price objective on shares of IG Group in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on IG Group from GBX 1,225 to GBX 1,350 and gave the stock a “buy” rating in a report on Friday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a report on Friday, September 26th. Finally, Royal Bank Of Canada increased their price objective on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the stock an “outperform” rating in a report on Thursday, August 14th.

IG Group Stock Performance

Shares of LON IGG opened at GBX 1,069 on Monday. The firm has a market capitalization of £3.70 billion, a price-to-earnings ratio of 1,017.13, a PEG ratio of -1.44 and a beta of 0.55. IG Group has a one year low of GBX 860 and a one year high of GBX 1,165. The business has a fifty day simple moving average of GBX 1,109.88 and a 200 day simple moving average of GBX 1,083.97. The company has a current ratio of 2.47, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04.

IG Group (LON:IGG) last announced its quarterly earnings results on Thursday, July 24th. The company reported GBX 114.10 EPS for the quarter. IG Group had a net margin of 58.42% and a return on equity of 30.53%. Sell-side analysts expect that IG Group will post 104.0295119 EPS for the current year.

IG Group announced that its board has approved a stock buyback plan on Thursday, September 4th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at IG Group

In other news, insider Clifford Abrahams acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of GBX 1,072 per share, for a total transaction of £53,600. Also, insider Breon Corcoran bought 61,499 shares of the stock in a transaction dated Wednesday, October 1st. The stock was purchased at an average cost of GBX 1,075 per share, with a total value of £661,114.25. Insiders purchased a total of 85,576 shares of company stock valued at $91,889,391 over the last quarter. Corporate insiders own 1.13% of the company’s stock.

About IG Group

IG Group (LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients.