IG Group (LON:IGG) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Investment analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of IG Group (LON:IGG) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a GBX 1,300 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 13.07% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a research report on Friday, September 26th. Peel Hunt reiterated a “buy” rating and set a GBX 340 target price on shares of IG Group in a report on Thursday, October 16th. Royal Bank Of Canada lifted their target price on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Finally, Shore Capital restated a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a research report on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, IG Group has a consensus rating of “Buy” and a consensus target price of GBX 1,302.

IG Group Price Performance

Shares of LON IGG traded up GBX 6.77 during midday trading on Tuesday, reaching GBX 1,149.77. 1,433,366 shares of the company were exchanged, compared to its average volume of 2,267,518. IG Group has a one year low of GBX 860 and a one year high of GBX 1,165. The stock’s 50-day moving average price is GBX 1,088.77 and its 200-day moving average price is GBX 1,099.19. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 17.04. The stock has a market cap of £3.95 billion, a P/E ratio of 10.94, a PEG ratio of -1.44 and a beta of 0.55.

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

Insider Transactions at IG Group

In related news, insider Clifford Abrahams acquired 5,000 shares of IG Group stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of GBX 1,072 per share, for a total transaction of £53,600. Also, insider Wu Gang bought 5,576 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was acquired at an average cost of GBX 1,071 per share, for a total transaction of £59,718.96. Over the last 90 days, insiders have purchased 85,576 shares of company stock valued at $91,889,391. 1.14% of the stock is currently owned by company insiders.

IG Group Company Profile

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.