TP ICAP Group (LON:TCAP) Shares Up 9.5% After Dividend Announcement

Shares of TP ICAP Group PLC (LON:TCAP) were up 9.5% during trading on Wednesday following a dividend announcement from the company. The company traded as high as GBX 242.50 ($3.10) and last traded at GBX 231 ($2.95). Approximately 24,641,523 shares changed hands during mid-day trading, an increase of 1,614% from the average daily volume of 1,437,709 shares. The stock had previously closed at GBX 211 ($2.70).

The newly announced dividend which will be paid on Friday, November 8th. Investors of record on Thursday, October 3rd will be paid a GBX 4.80 ($0.06) dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a yield of 2.27%. TP ICAP Group’s dividend payout ratio (DPR) is presently 16,666.67%.

Analyst Upgrades and Downgrades

TCAP has been the topic of a number of analyst reports. Canaccord Genuity Group increased their target price on shares of TP ICAP Group from GBX 256 ($3.27) to GBX 326 ($4.17) and gave the stock a “buy” rating in a research report on Monday, May 13th. Shore Capital reiterated a “buy” rating on shares of TP ICAP Group in a research note on Wednesday.

TP ICAP Group Trading Up 1.5 %

The company has a market capitalization of £1.78 billion, a P/E ratio of 2,566.67, a PEG ratio of 0.49 and a beta of 0.64. The company has a debt-to-equity ratio of 138.55, a quick ratio of 0.97 and a current ratio of 1.29. The business has a fifty day moving average of GBX 212.13 and a 200-day moving average of GBX 206.50.

TP ICAP Group Company Profile

TP ICAP Group PLC provides intermediary services, contextual insights, trade execution, pre-trade and settlement services, and data-led solutions in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. It operates through Global Broking, Energy & Commodities, Liquidnet, and Parameta Solutions divisions.