IG Group (LON:IGG) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of IG Group (LON:IGG) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a GBX 1,300 target price on the stock.

Other equities analysts have also issued research reports about the stock. Shore Capital reiterated a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a research report on Thursday, September 25th. Peel Hunt restated a “buy” rating and set a GBX 340 target price on shares of IG Group in a research report on Thursday, October 16th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,250 price objective on shares of IG Group in a research note on Friday, September 26th. Finally, Royal Bank Of Canada boosted their target price on 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. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, IG Group presently has a consensus rating of “Buy” and a consensus target price of GBX 1,302.

IG Group Trading Up 0.4%

Shares of IGG stock opened at GBX 1,157.02 on Tuesday. 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 firm has a market cap of £3.95 billion, a P/E ratio of 11.01, a PEG ratio of -1.44 and a beta of 0.55. The company has a 50 day moving average of GBX 1,092.42 and a 200-day moving average of GBX 1,099.94. IG Group has a 12-month low of GBX 860 and a 12-month high of GBX 1,165.

IG Group declared that its Board of Directors has approved a share repurchase plan on Thursday, September 4th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other IG Group news, insider Breon Corcoran acquired 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, for a total transaction of £661,114.25. Also, insider Clifford Abrahams bought 5,000 shares of IG Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of GBX 1,072 per share, for a total transaction of £53,600. Over the last ninety days, insiders have acquired 85,576 shares of company stock valued at $91,889,391. 1.14% of the stock is currently owned by corporate insiders.

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.