TP ICAP Group (LON:TCAP - Get Free Report) announced that its board has initiated a share buyback plan on Tuesday, March 11th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.
TP ICAP Group Trading Down 1.2 %
Shares of TCAP traded down GBX 3 ($0.04) during mid-day trading on Tuesday, reaching GBX 256 ($3.31). The company's stock had a trading volume of 208,127,516 shares, compared to its average volume of 8,730,441. The stock has a market cap of £1.93 billion, a P/E ratio of 19.88, a PEG ratio of 0.49 and a beta of 0.65. The business has a 50-day simple moving average of GBX 264.87 and a two-hundred day simple moving average of GBX 251.95. TP ICAP Group has a 1-year low of GBX 192 ($2.49) and a 1-year high of GBX 277.50 ($3.59).
Analysts Set New Price Targets
Separately, Shore Capital reaffirmed a "buy" rating on shares of TP ICAP Group in a research report on Tuesday.
Read Our Latest Stock Analysis on TCAP
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