IG Group (LON:IGG) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

IG Group Holdings plc (LON:IGG) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 851.98 ($11.13) and traded as high as GBX 945.50 ($12.35). IG Group shares last traded at GBX 945.50 ($12.35), with a volume of 576,259 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IGG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 1,065 ($13.91) price target on shares of IG Group in a research note on Wednesday, August 14th. Shore Capital reiterated a “buy” rating on shares of IG Group in a research note on Thursday, July 25th. Finally, Royal Bank of Canada increased their price target on shares of IG Group from GBX 1,000 ($13.06) to GBX 1,100 ($14.36) and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 986.75 ($12.89).

IG Group Stock Performance

The stock has a fifty day moving average price of GBX 943.81 and a 200 day moving average price of GBX 851.98. 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 market cap of £3.39 billion, a price-to-earnings ratio of 1,212.18, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55.

IG Group Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be issued a dividend of GBX 32.64 ($0.43) per share. This represents a yield of 3.86%. The ex-dividend date is Thursday, September 19th. This is an increase from IG Group’s previous dividend of $13.56. IG Group’s dividend payout ratio (DPR) is 5,897.44%.

Insider Activity

In other news, insider Breon Corcoran purchased 40,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was bought at an average cost of GBX 916 ($11.96) per share, for a total transaction of £366,400 ($478,453.90). In other IG Group news, insider Breon Corcoran purchased 40,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of GBX 916 ($11.96) per share, with a total value of £366,400 ($478,453.90). Also, insider Charlie Rozes sold 23,088 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of GBX 910 ($11.88), for a total transaction of £210,100.80 ($274,354.66). Insiders own 4.44% of the company’s stock.

IG Group Company Profile

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.