IG Group (LON:IGG) Share Price Passes Above 200 Day Moving Average of $703.09

IG Group Holdings plc (LON:IGG)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 703.09 ($8.75) and traded as high as GBX 727.50 ($9.06). IG Group shares last traded at GBX 720.50 ($8.97), with a volume of 1,405,058 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on IGG. Shore Capital reissued a “buy” rating on shares of IG Group in a research report on Thursday, March 14th. Canaccord Genuity Group dropped their price target on IG Group from GBX 859 ($10.69) to GBX 782 ($9.73) and set a “buy” rating on the stock in a research report on Thursday, February 29th.

IG Group Stock Performance

The company has a current ratio of 2.25, a quick ratio of 2.40 and a debt-to-equity ratio of 17.18. The firm has a 50-day simple moving average of GBX 715.59 and a two-hundred day simple moving average of GBX 703.22. The company has a market capitalization of £2.70 billion, a price-to-earnings ratio of 967.36, a price-to-earnings-growth ratio of -1.44 and a beta of 0.52.

IG Group Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 1st were issued a GBX 13.56 ($0.17) dividend. The ex-dividend date was Thursday, February 1st. This represents a dividend yield of 1.75%. IG Group’s payout ratio is presently 6,216.22%.

Insider Transactions at IG Group

In other IG Group news, insider Robert Michael McTighe purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of GBX 679 ($8.45) per share, with a total value of £67,900 ($84,526.33). 5.72% of the stock is currently owned by insiders.

About IG Group

IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.