IG Group Holdings plc (LON:IGG) Given Average Recommendation of “Buy” by Brokerages

Shares of IG Group Holdings plc (LON:IGG) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is GBX 1,302.

A number of brokerages have recently weighed in on IGG. Deutsche Bank Aktiengesellschaft initiated coverage on IG Group in a research note on Tuesday, December 2nd. They issued a “buy” rating and a GBX 1,300 target price for the company. Royal Bank Of Canada raised their price objective on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Shore Capital reaffirmed a “buy” rating and issued a GBX 1,250 target price on shares of IG Group in a research note on Thursday, September 25th. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,250 price target on shares of IG Group in a research note on Friday, September 26th. Finally, Peel Hunt reissued a “buy” rating and issued a GBX 340 price target on shares of IG Group in a report on Thursday, October 16th.

Insiders Place Their Bets

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

IG Group Trading Down 0.5%

IGG stock opened at GBX 1,157.49 on Tuesday. The business has a fifty day moving average price of GBX 1,094.53 and a 200 day moving average price of GBX 1,100.09. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. IG Group has a fifty-two week low of GBX 860 and a fifty-two week high of GBX 1,167. The stock has a market capitalization of £3.95 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of -1.44 and a beta of 0.55.

IG Group declared that its board has initiated a stock repurchase plan on Thursday, September 4th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are 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.