IG Group (LON:IGG) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of IG Group Holdings plc (LON:IGG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 958.25 ($12.41) and traded as high as GBX 962.50 ($12.46). IG Group shares last traded at GBX 961 ($12.44), with a volume of 46,366,148 shares trading hands.

Analysts Set New Price Targets

Separately, Shore Capital reaffirmed a “buy” rating on shares of IG Group in a research note on Thursday, March 13th.

IG Group Stock Performance

The company’s 50-day moving average price is GBX 980.03 and its two-hundred day moving average price is GBX 958.25. The company has a market capitalization of £3.41 billion, a price-to-earnings ratio of 6.41, a PEG ratio of -1.44 and a beta of 0.55. 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 (LON:IGG) last issued its quarterly earnings results on Thursday, January 23rd. The company reported GBX 55.30 ($0.72) EPS for the quarter. IG Group had a net margin of 58.42% and a return on equity of 30.53%. On average, equities research analysts anticipate that IG Group Holdings plc will post 104.0295119 EPS for the current fiscal year.

IG Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, February 11th. Investors of record on Thursday, January 30th were paid a dividend of GBX 13.86 ($0.18) per share. The ex-dividend date of this dividend was Thursday, January 30th. This represents a yield of 1.37%. IG Group’s dividend payout ratio is currently 30.68%.

Insider Buying and Selling at IG Group

In related news, insider Clifford Abrahams purchased 5,000 shares of IG Group stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of GBX 1,013 ($13.11) per share, for a total transaction of £50,650 ($65,574.83). Insiders own 4.44% of the company’s stock.

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.