Brokerages Set IG Group Holdings plc (LON:IGG) PT at GBX 1,309.14

Shares of IG Group Holdings plc (LON:IGG) have been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is GBX 1,309.14.

A number of equities analysts recently commented on the stock. Jefferies Financial Group reiterated 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 raised 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. Deutsche Bank Aktiengesellschaft upped their price objective on IG Group from GBX 1,225 to GBX 1,350 and gave the stock a “buy” rating in a research report on Friday, August 8th. Peel Hunt reiterated a “buy” rating and issued a GBX 340 price objective on shares of IG Group in a report on Thursday, October 16th. Finally, Shore Capital restated a “buy” rating and set a GBX 1,250 target price on shares of IG Group in a research note on Thursday, September 25th.

Insider Transactions at IG Group

In related news, insider Breon Corcoran bought 61,499 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were purchased at an average cost of GBX 1,075 per share, with a total value of £661,114.25. Also, insider Wu Gang purchased 5,576 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were bought at an average price of GBX 1,071 per share, for a total transaction of £59,718.96. In the last quarter, insiders purchased 85,576 shares of company stock worth $91,889,391. 1.14% of the stock is currently owned by insiders.

IG Group Trading Down 0.4%

LON IGG opened at GBX 1,112 on Friday. IG Group has a 52 week low of GBX 860 and a 52 week high of GBX 1,165. The firm has a 50 day moving average of GBX 1,099.54 and a two-hundred day moving average of GBX 1,097.90. 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 stock has a market capitalization of £3.82 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55.

IG Group announced that its board has authorized a share repurchase program on Thursday, September 4th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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.