TP ICAP Group (LON:TCAP – Get Free Report) announced that its board has approved a share buyback program on Tuesday, March 11th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
TP ICAP Group Stock Down 1.2 %
Shares of LON TCAP opened at GBX 256 ($3.31) on Wednesday. The firm has a market capitalization of £1.93 billion, a P/E ratio of 19.88, a P/E/G ratio of 0.49 and a beta of 0.65. The stock’s 50-day simple moving average is GBX 264.87 and its two-hundred day simple moving average is GBX 251.95. TP ICAP Group has a twelve month low of GBX 192 ($2.49) and a twelve month high of GBX 277.50 ($3.59).
Analyst Ratings Changes
Separately, Shore Capital reissued a “buy” rating on shares of TP ICAP Group in a research report on Tuesday.
TP ICAP Group Company Profile
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