Brokerages Set IG Group Holdings plc (LON:IGG) PT at GBX 1,309.14

IG Group Holdings plc (LON:IGG) has been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is GBX 1,309.14.

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of IG Group from GBX 1,150 to GBX 1,275 and gave the stock an “outperform” rating in a research report on Thursday, August 14th. Peel Hunt reissued a “buy” rating and issued a GBX 340 price objective on shares of IG Group in a research note on Thursday, October 16th. Deutsche Bank Aktiengesellschaft upped their target price on IG Group from GBX 1,225 to GBX 1,350 and gave the stock a “buy” rating in a report on Friday, August 8th. Shore Capital reiterated a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a report on Thursday, September 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,250 price target on shares of IG Group in a research report on Friday, September 26th.

Insider Buying and Selling at IG Group

In other news, insider Clifford Abrahams purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of GBX 1,072 per share, with a total value of £53,600. Also, insider Wu Gang purchased 5,576 shares of the stock in a transaction dated Monday, October 6th. The stock was purchased at an average price of GBX 1,071 per share, for a total transaction of £59,718.96. Over the last ninety days, insiders bought 85,576 shares of company stock valued at $91,889,391. 1.14% of the stock is currently owned by insiders.

IG Group Stock Down 3.3%

LON:IGG opened at GBX 1,069 on Friday. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. IG Group has a 1-year low of GBX 860 and a 1-year high of GBX 1,165. The company has a 50-day moving average of GBX 1,099.44 and a 200 day moving average of GBX 1,099.01. The firm has a market cap of £3.67 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55.

IG Group declared that its Board of Directors has approved a share buyback program on Thursday, September 4th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About IG Group

IG Group?(LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to?power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients.