IG Group (LON:IGG) Share Price Passes Above Two Hundred Day Moving Average of $689.18

IG Group Holdings plc (LON:IGGGet Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 689.18 ($8.74) and traded as high as GBX 713 ($9.04). IG Group shares last traded at GBX 711 ($9.02), with a volume of 1,016,938 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IGG. Shore Capital reissued a “buy” rating on shares of IG Group in a research report on Thursday, January 25th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,000 ($12.68) price objective on shares of IG Group in a report on Wednesday, November 15th. Finally, Canaccord Genuity Group upped their target price on shares of IG Group from GBX 801 ($10.16) to GBX 859 ($10.90) and gave the company a “buy” rating in a research note on Thursday, November 2nd.

Read Our Latest Stock Report on IG Group

IG Group Trading Down 0.7 %

The firm’s 50 day simple moving average is GBX 731.16 and its two-hundred day simple moving average is GBX 689.39. The company has a quick ratio of 2.40, a current ratio of 2.25 and a debt-to-equity ratio of 17.18. The stock has a market cap of £2.65 billion, a P/E ratio of 951.35, a price-to-earnings-growth ratio of -1.44 and a beta of 0.51.

IG Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 1st will be issued a GBX 13.56 ($0.17) dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a yield of 1.75%. IG Group’s dividend payout ratio is currently 6,216.22%.

Insider Activity

In related news, insider Robert Michael McTighe acquired 10,000 shares of IG Group stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of GBX 679 ($8.61) per share, for a total transaction of £67,900 ($86,123.80). Corporate insiders own 5.69% of the company’s stock.

About IG Group

(Get Free Report)

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.

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