IG Group (LON:IGG) Price Target Raised to GBX 1,100 at Royal Bank of Canada

IG Group (LON:IGG) had its price target raised by Royal Bank of Canada from GBX 1,000 ($12.86) to GBX 1,100 ($14.15) in a research report released on Thursday morning, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

Separately, Shore Capital restated a buy rating on shares of IG Group in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of GBX 965.50 ($12.42).

IG Group Stock Performance

Shares of LON:IGG traded down GBX 25 ($0.32) during trading on Thursday, reaching GBX 909.50 ($11.70). 9,112,016 shares of the stock were exchanged, compared to its average volume of 1,286,756. IG Group has a 12 month low of GBX 600.50 ($7.72) and a 12 month high of GBX 953.01 ($12.26). The firm has a market cap of £3.40 billion, a PE ratio of 1,229.05, a PEG ratio of -1.44 and a beta of 0.52. The stock has a 50-day moving average price of GBX 834.17 and a 200-day moving average price of GBX 767.09. The company has a current ratio of 2.25, a quick ratio of 2.40 and a debt-to-equity ratio of 17.18.

IG Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be given a GBX 32.64 ($0.42) dividend. This represents a dividend yield of 3.86%. This is an increase from IG Group’s previous dividend of $13.56. The ex-dividend date of this dividend is Thursday, September 19th. IG Group’s payout ratio is presently 6,216.22%.

Insider Activity

In other news, insider Charlie Rozes sold 23,088 shares of IG Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of GBX 910 ($11.71), for a total value of £210,100.80 ($270,260.87). 5.62% of the stock is 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.