Stock Buyback Program Announced by IG Group (LON:IGG)

IG Group (LON:IGG) announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 1st, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

IG Group Price Performance

IGG opened at GBX 1,438.33 on Friday. The company has a market capitalization of £4.81 billion, a price-to-earnings ratio of 13.69, a PEG ratio of -1.44 and a beta of 0.64. The company has a current ratio of 3.43, a quick ratio of 2.40 and a debt-to-equity ratio of 30.81. IG Group has a 12-month low of GBX 860 and a 12-month high of GBX 1,477. The business’s fifty day simple moving average is GBX 1,368.09 and its 200-day simple moving average is GBX 1,234.96.

IG Group (LON:IGG) last released its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 earnings per share for the quarter. IG Group had a return on equity of 20.91% and a net margin of 35.26%. On average, equities research analysts anticipate that IG Group will post 104.0295119 earnings per share for the current fiscal year.

About IG Group

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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.