Intermediate Capital Group (LON:ICG) Stock Price Up 1.9% - Time to Buy?

Intermediate Capital Group plc (LON:ICG - Get Free Report)'s stock price rose 1.9% on Wednesday . The company traded as high as GBX 2,210 ($28.20) and last traded at GBX 2,200 ($28.07). Approximately 4,498,682 shares were traded during mid-day trading, an increase of 178% from the average daily volume of 1,616,025 shares. The stock had previously closed at GBX 2,160 ($27.56).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank started coverage on shares of Intermediate Capital Group in a research report on Wednesday, October 23rd. They set a "buy" rating and a GBX 2,600 ($33.18) price target on the stock.

Intermediate Capital Group Trading Down 0.2 %

The stock has a market cap of £6.31 billion, a price-to-earnings ratio of 1,356.25 and a beta of 1.97. The firm has a fifty day simple moving average of GBX 2,123.02 and a 200-day simple moving average of GBX 2,168.77.

Intermediate Capital Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, December 5th will be given a dividend of GBX 26.30 ($0.34) per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a yield of 1.17%. Intermediate Capital Group's payout ratio is presently 4,937.50%.

About Intermediate Capital Group

We are a provider of integrated solutions consisting of high-performance computing ASIC chips and ancillary software and hardware for blockchain applications. We utilize a fabless business model and specialize in the front-end and back-end of IC design, which are the major components of the IC product development chain.