Brokerages Set IG Group Holdings plc (LON:IGG) Target Price at GBX 985.40

IG Group Holdings plc (LON:IGG) has been given an average rating of “Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is GBX 985.40 ($12.80).

A number of research firms recently commented on IGG. Shore Capital reiterated a “buy” rating on shares of IG Group in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of IG Group from GBX 1,000 ($12.99) to GBX 1,100 ($14.29) and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 1,065 ($13.84) price target on shares of IG Group in a research report on Wednesday, August 14th.

IG Group Price Performance

Shares of IGG opened at GBX 968 ($12.58) on Wednesday. The firm has a market cap of £3.57 billion, a PE ratio of 1,237.18, a P/E/G ratio of -1.44 and a beta of 0.57. The company has a current ratio of 2.31, a quick ratio of 2.40 and a debt-to-equity ratio of 17.04. The firm has a fifty day simple moving average of GBX 868.25 and a two-hundred day simple moving average of GBX 784.98. IG Group has a 1-year low of GBX 600.50 ($7.80) and a 1-year high of GBX 980.50 ($12.74).

IG Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be paid a GBX 32.64 ($0.42) dividend. The ex-dividend date of this dividend is Thursday, September 19th. This is a boost from IG Group’s previous dividend of $13.56. This represents a dividend yield of 3.86%. IG Group’s dividend payout ratio is 5,897.44%.

Insider Buying and Selling

In other IG Group news, insider Charlie Rozes sold 23,088 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of GBX 910 ($11.82), for a total value of £210,100.80 ($273,000.00). 5.66% of the stock is currently owned by company 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.