Brokerages Set IG Group Holdings plc (LON:IGG) Price Target at GBX 1,309.14

IG Group Holdings plc (LON:IGG) has earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is GBX 1,302.

A number of equities analysts have commented on IGG shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of IG Group in a research report on Tuesday. They set a “buy” rating and a GBX 1,300 price objective for the company. Peel Hunt reissued a “buy” rating and set a GBX 340 price target on shares of IG Group in a report on Thursday, October 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,250 price objective on shares of IG Group in a report on Friday, September 26th. Royal Bank Of Canada increased their target price on IG Group from GBX 1,150 to GBX 1,275 and gave the stock an “outperform” rating in a research note on Thursday, August 14th. Finally, Shore Capital reissued a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a report on Thursday, September 25th.

Insider Activity at IG Group

In related news, insider Breon Corcoran acquired 61,499 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were purchased at an average price of GBX 1,075 per share, with a total value of £661,114.25. Also, insider Wu Gang bought 5,576 shares of the stock in a transaction on Monday, October 6th. The shares were bought at an average price of GBX 1,071 per share, for a total transaction of £59,718.96. Insiders purchased 85,576 shares of company stock worth $91,889,391 over the last 90 days. Company insiders own 1.14% of the company’s stock.

IG Group Stock Performance

Shares of IGG opened at GBX 1,157.02 on Tuesday. The company’s 50 day simple moving average is GBX 1,092.42 and its 200-day simple moving average is GBX 1,099.94. The firm has a market cap of £3.95 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. IG Group has a 12-month low of GBX 860 and a 12-month high of GBX 1,165. 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 declared that its board has authorized a share buyback program on Thursday, September 4th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.