IG Group (LON:IGG) Stock Crosses Above 200 Day Moving Average of $821.72

IG Group Holdings plc (LON:IGG) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 821.72 ($10.85) and traded as high as GBX 970.50 ($12.82). IG Group shares last traded at GBX 965.50 ($12.75), with a volume of 688,122 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on IGG. Shore Capital reiterated a “buy” rating on shares of IG Group in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,065 ($14.07) price objective on shares of IG Group in a report on Wednesday, August 14th. Finally, Royal Bank of Canada raised their target price on shares of IG Group from GBX 1,000 ($13.21) to GBX 1,100 ($14.53) and gave the stock an “outperform” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 986.75 ($13.04).

IG Group Trading Down 0.3 %

The firm has a market capitalization of £3.47 billion, a P/E ratio of 1,237.82, a P/E/G ratio of -1.44 and a beta of 0.55. 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 stock has a 50 day simple moving average of GBX 925.44 and a 200-day simple moving average of GBX 821.72.

IG Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be given a dividend of GBX 32.64 ($0.43) per share. This represents a yield of 3.86%. This is a positive change from IG Group’s previous dividend of $13.56. The ex-dividend date is Thursday, September 19th. IG Group’s payout ratio is 5,897.44%.

Insider Buying and Selling at IG Group

In other news, insider Charlie Rozes sold 23,088 shares of IG Group stock in a transaction on Friday, July 26th. The shares were sold at an average price of GBX 910 ($12.02), for a total transaction of £210,100.80 ($277,543.99). 4.39% of the stock is owned by corporate 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.