IG Group (LON:IGG) Shares Cross Above 200 Day Moving Average - Here's Why

IG Group Holdings plc (LON:IGG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 851.98 ($11.13) and traded as high as GBX 945.50 ($12.35). IG Group shares last traded at GBX 945.50 ($12.35), with a volume of 576,259 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IGG shares. Royal Bank of Canada raised their price objective on shares of IG Group from GBX 1,000 ($13.06) to GBX 1,100 ($14.36) and gave the stock an "outperform" rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 1,065 ($13.91) price objective on shares of IG Group in a report on Wednesday, August 14th. Finally, Shore Capital reaffirmed 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, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of GBX 986.75 ($12.89).

IG Group Stock Up 0.3 %

The firm has a market cap of £3.41 billion, a price-to-earnings ratio of 1,215.38, a PEG ratio of -1.44 and a beta of 0.55. The company has a debt-to-equity ratio of 17.04, a quick ratio of 2.40 and a current ratio of 2.31. The business's 50-day moving average is GBX 944.50 and its 200-day moving average is GBX 852.65.

IG Group Increases Dividend

The company 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. The ex-dividend date is Thursday, September 19th. This represents a dividend yield of 3.86%. This is a boost from IG Group's previous dividend of $13.56. IG Group's dividend payout ratio (DPR) is 5,897.44%.

Insider Buying and Selling

In related news, insider Charlie Rozes sold 23,088 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of GBX 910 ($11.88), for a total transaction of £210,100.80 ($274,354.66). In related news, insider Breon Corcoran bought 40,000 shares of the company's stock in a transaction on Monday, September 23rd. The stock was bought at an average cost of GBX 916 ($11.96) per share, with a total value of £366,400 ($478,453.90). Also, insider Charlie Rozes sold 23,088 shares of the business's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of GBX 910 ($11.88), for a total transaction of £210,100.80 ($274,354.66). 4.44% of the stock is currently 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.