IG Group (LON:IGG) Shares Cross Above 200 Day Moving Average - Should You Sell?

IG Group Holdings plc (LON:IGG - Get Free Report)'s stock price crossed 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 Ratings Changes

A number of analysts recently weighed in on IGG shares. Royal Bank of Canada increased their price target 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. Shore Capital reiterated a "buy" rating on shares of IG Group in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated 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 research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of GBX 986.75 ($12.91).

IG Group Price Performance

The company's 50 day moving average price is GBX 942.08 and its 200-day moving average price is GBX 844.43. The company has a market capitalization of £3.29 billion, a PE ratio of 1,175.00, a PEG 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.

IG Group Increases Dividend

The firm also recently declared 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 boost from IG Group's previous dividend of $13.56. The ex-dividend date of this dividend is Thursday, September 19th. IG Group's dividend payout ratio is 5,897.44%.

Insider Buying and Selling

In other IG Group news, insider Breon Corcoran purchased 40,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of GBX 916 ($11.99) per share, with a total value of £366,400 ($479,518.39). In other news, insider Charlie Rozes sold 23,088 shares of the company's stock in a transaction dated Friday, July 26th. The shares were sold at an average price of GBX 910 ($11.91), for a total value of £210,100.80 ($274,965.06). Also, insider Breon Corcoran bought 40,000 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of GBX 916 ($11.99) per share, for a total transaction of £366,400 ($479,518.39). 4.44% of the stock is owned by corporate insiders.

IG Group Company Profile

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.