IG Group (LON:IGG) Stock Crosses Above 200-Day Moving Average – Should You Sell?

IG Group Holdings plc (LON:IGG)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 843.16 ($11.03) and traded as high as GBX 916.50 ($11.99). IG Group shares last traded at GBX 910 ($11.91), with a volume of 707,581 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IGG. Shore Capital reaffirmed a “buy” rating on shares of IG Group in a research report on Thursday, July 25th. Royal Bank of Canada lifted their target price on shares of IG Group from GBX 1,000 ($13.09) to GBX 1,100 ($14.40) and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 1,065 ($13.94) price target on shares of IG Group in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 986.75 ($12.91).

IG Group Stock Performance

The company has a 50-day moving average price of GBX 942.56 and a two-hundred day moving average price of GBX 843.16. The company has a quick ratio of 2.40, a current ratio of 2.31 and a debt-to-equity ratio of 17.04. The stock has a market capitalization of £3.28 billion, a P/E ratio of 1,166.67, a PEG ratio of -1.44 and a beta of 0.55.

IG Group Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a dividend of GBX 32.64 ($0.43) per share. This is a positive change from IG Group’s previous dividend of $13.56. This represents a dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, September 19th. IG Group’s 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 dated Friday, July 26th. The stock was sold at an average price of GBX 910 ($11.91), for a total value of £210,100.80 ($274,965.06). In related news, insider Breon Corcoran acquired 40,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of GBX 916 ($11.99) per share, with a total value of £366,400 ($479,518.39). Also, insider Charlie Rozes sold 23,088 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of GBX 910 ($11.91), for a total transaction of £210,100.80 ($274,965.06). 4.42% 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.