IG Group (LON:IGG) Share Price Passes Above 200 Day Moving Average of $703.09

IG Group Holdings plc (LON:IGG)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 703.09 ($8.75) and traded as high as GBX 727.50 ($9.06). IG Group shares last traded at GBX 720.50 ($8.97), with a volume of 1,405,058 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IGG shares. Shore Capital reiterated a “buy” rating on shares of IG Group in a report on Thursday, March 14th. Canaccord Genuity Group lowered their price target on shares of IG Group from GBX 859 ($10.69) to GBX 782 ($9.73) and set a “buy” rating for the company in a report on Thursday, February 29th.

IG Group Stock Down 0.3 %

The firm has a market capitalization of £2.70 billion, a price-to-earnings ratio of 967.36, a P/E/G ratio of -1.44 and a beta of 0.52. The stock has a fifty day moving average of GBX 715.59 and a two-hundred day moving average of GBX 703.22. The company has a debt-to-equity ratio of 17.18, a current ratio of 2.25 and a quick ratio of 2.40.

IG Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 1st were issued a GBX 13.56 ($0.17) dividend. The ex-dividend date was Thursday, February 1st. This represents a yield of 1.75%. IG Group’s payout ratio is 6,216.22%.

Insider Activity at IG Group

In related news, insider Robert Michael McTighe acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average cost of GBX 679 ($8.45) per share, for a total transaction of £67,900 ($84,526.33). 5.72% of the stock is currently 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.