3i Group (LON:III – Get Free Report) announced that its Board of Directors has initiated a share buyback program on Thursday, November 12th, RTT News reports. The company plans to repurchase £750 million in shares. This repurchase authorization permits the company to purchase up to 2.9% of its stock through open market purchases. Share repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
3i Group Trading Down 3.0%
Shares of III stock opened at GBX 2,628.50 on Friday. The company has a debt-to-equity ratio of 4.79, a quick ratio of 0.09 and a current ratio of 1.50. The company has a market capitalization of £26.65 billion, a price-to-earnings ratio of 4.88, a PEG ratio of -0.35 and a beta of 1.63. 3i Group has a 52-week low of GBX 1,825 and a 52-week high of GBX 3,626. The company has a 50-day simple moving average of GBX 2,535.57 and a two-hundred day simple moving average of GBX 2,680.89.
3i Group (LON:III – Get Free Report) last posted its earnings results on Thursday, November 12th. The company reported GBX 160 EPS for the quarter. 3i Group had a net margin of 94.84% and a return on equity of 16.80%. Research analysts anticipate that 3i Group will post 622.71 EPS for the current fiscal year.
Insider Buying and Selling
In other 3i Group news, insider Simon Borrows purchased 37,600 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The shares were acquired at an average cost of GBX 2,674 per share, for a total transaction of £1,005,424. Company insiders own 2.13% of the company’s stock.
3i Group Company Profile
3i is an investment company specialising in Private Equity and Infrastructure. We invest in mid-market companies headquartered in Europe and North America. We generate attractive returns for our shareholders and co-investors by investing in private equity and infrastructure assets. As proprietary capital investors we have a long-term, responsible approach. We aim to compound value through thoughtful origination, disciplined investment and active management of our assets, driving sustainable growth in our investment companies.
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