IG Group Holdings plc (LON:IGG) Receives Average Rating of “Buy” from Analysts

IG Group Holdings plc (LON:IGG) has been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is GBX 1,302.

Several brokerages have recently issued reports on IGG. Peel Hunt reissued a “buy” rating and set a GBX 340 price target on shares of IG Group in a research report on Thursday, October 16th. Shore Capital reiterated a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a report on Thursday, September 25th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a research report on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on IG Group in a research report on Tuesday, December 2nd. They set a “buy” rating and a GBX 1,300 price objective on the stock.

Insiders Place Their Bets

In related news, insider Breon Corcoran acquired 61,499 shares of the stock in a transaction dated Wednesday, October 1st. The stock was acquired at an average cost of GBX 1,075 per share, with a total value of £661,114.25. Also, insider Clifford Abrahams bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were purchased at an average price of GBX 1,072 per share, for a total transaction of £53,600. Insiders have purchased a total of 85,576 shares of company stock worth $91,889,391 in the last quarter. 1.14% of the stock is owned by company insiders.

IG Group Price Performance

IGG opened at GBX 1,312 on Friday. The stock’s 50-day moving average price is GBX 1,145.57 and its 200 day moving average price is GBX 1,114.14. IG Group has a 12-month low of GBX 860 and a 12-month high of GBX 1,320. The firm has a market cap of £4.48 billion, a price-to-earnings ratio of 12.48, a PEG ratio of -1.44 and a beta of 0.55. 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 approved a stock buyback program on Thursday, September 4th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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. IG Group continues to innovate its offering for the new generation of tomorrow’s
investors through its IG, tastytrade, IG Prime, Spectrum, and DailyFX brands.

Established in 1974, IG Group is a London-headquartered FTSE 250 company offering its clients access to ~19,000
financial markets through its offices spread across Europe, North America, Africa, Asia-Pacific and the Middle East.