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

Shares of IG Group Holdings plc (LON:IGG) have received a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is GBX 1,309.14.

A number of research analysts have recently issued reports on the company. Shore Capital reissued a “buy” rating and issued a GBX 1,250 price objective on shares of IG Group in a research note on Thursday, September 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a research note on Friday, September 26th. Royal Bank Of Canada boosted their price target on IG Group from GBX 1,150 to GBX 1,275 and gave the company an “outperform” rating in a research note on Thursday, August 14th. Peel Hunt restated a “buy” rating and issued a GBX 340 price target on shares of IG Group in a report on Thursday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of IG Group from GBX 1,225 to GBX 1,350 and gave the company a “buy” rating in a research note on Friday, August 8th.

Insider Buying and Selling

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

IG Group Trading Down 0.9%

IGG opened at GBX 1,124.67 on Tuesday. IG Group has a twelve month low of GBX 860 and a twelve month high of GBX 1,165. The company has a fifty day moving average of GBX 1,087.35 and a 200-day moving average of GBX 1,098.98. The stock has a market cap of £3.86 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 17.04.

IG Group announced that its Board of Directors has approved a stock buyback plan on Thursday, September 4th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.