Stock Buyback Plan Authorized by 3i Group (LON:III)

3i Group (LON:III) declared that its board has initiated a stock buyback program on Thursday, November 12th, RTT News reports. The company plans to buy back £750 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.9% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

3i Group Trading Up 6.2%

Shares of 3i Group stock traded up GBX 158.97 on Thursday, reaching GBX 2,719. 361,765,469 shares of the company were exchanged, compared to its average volume of 26,748,357. 3i Group has a fifty-two week low of GBX 1,825 and a fifty-two week high of GBX 3,806. The firm has a market capitalization of £27.56 billion, a price-to-earnings ratio of 5.05, a price-to-earnings-growth ratio of -0.35 and a beta of 1.63. The company has a current ratio of 131.80, a quick ratio of 0.09 and a debt-to-equity ratio of 4.08. The stock has a fifty day moving average price of GBX 2,539.52 and a 200-day moving average price of GBX 2,683.44.

Insider Transactions at 3i Group

In other news, insider Simon Borrows purchased 37,600 shares of 3i Group stock in a transaction that occurred on Thursday, November 12th. The stock was acquired at an average price of GBX 2,674 per share, for a total transaction of £1,005,424. Insiders own 2.13% of the company’s stock.

3i Group Company Profile

3i is an investment company specialising in Private Equity and Infrastructure. We invest in mid-market companies headquartered in Europe and North America. We generate attractive returns for our shareholders and co-investors by investing in private equity and infrastructure assets. As proprietary capital investors we have a long-term, responsible approach. We aim to compound value through thoughtful origination, disciplined investment and active management of our assets, driving sustainable growth in our investment companies.