IG Group Holdings Rating Lowered to Neutral at Goldman Sachs Group Inc. (IGG)
IG Group Holdings (LON:IGG) was downgraded by research analysts at Goldman Sachs Group Inc. to a “neutral” rating in a report released on Monday, AnalystRatings.Net reports. They currently have a GBX 725 ($11.95) price target on the stock, down from their previous price target of GBX 735 ($12.11). Goldman Sachs Group Inc.’s price objective suggests a potential upside of 17.31% from the company’s current price.
IG Group Holdings (LON:IGG) traded down 0.56% during mid-day trading on Monday, hitting GBX 618.00. 846,659 shares of the company’s stock traded hands. IG Group Holdings has a 52-week low of GBX 441.60 and a 52-week high of GBX 639.00. The stock has a 50-day moving average of GBX 609.2 and a 200-day moving average of GBX 594.5. The company’s market cap is £2.252 billion.
The company also recently declared a dividend, which is scheduled for Tuesday, February 25th. Investors of record on Wednesday, January 22nd will be given a dividend of GBX 5.75 ($0.09) per share. This represents a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, January 22nd.
IGG has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. raised their price target on shares of IG Group Holdings from GBX 650 ($10.71) to GBX 700 ($11.53) in a research note to investors on Wednesday, January 15th. They now have a “buy” rating on the stock. Separately, analysts at Numis Securities Ltd reiterated an “add” rating on shares of IG Group Holdings in a research note to investors on Tuesday, January 14th. They now have a GBX 665 ($10.96) price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of IG Group Holdings in a research note to investors on Tuesday, January 14th. They now have a GBX 666 ($10.97) price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. IG Group Holdings currently has an average rating of “Buy” and a consensus target price of GBX 665.55 ($10.97).
IG Group Holdings plc is a United Kingdom-based company. The Company is engaged in derivative trading services, providing financial contracts for difference, spread betting and exchange-traded derivatives to retail investors worldwide.
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