IG Group (LON:IGG) Reaches New 12-Month High – Still a Buy?

IG Group Holdings plc (LON:IGG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 1,296 and last traded at GBX 1,284, with a volume of 1788772 shares. The stock had previously closed at GBX 1,265.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IGG. Peel Hunt reiterated a “buy” rating and set a GBX 340 target price on shares of IG Group in a report on Thursday, October 16th. Shore Capital restated a “buy” rating and set a GBX 1,250 price target on shares of IG Group in a research report on Thursday, September 25th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,250 price objective on shares of IG Group in a report on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on IG Group in a research report on Tuesday, December 2nd. They set a “buy” rating and a GBX 1,300 price objective for the company. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, IG Group currently has a consensus rating of “Buy” and a consensus price target of GBX 1,302.

IG Group Stock Performance

The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. The business has a 50 day moving average price of GBX 1,122.13 and a 200 day moving average price of GBX 1,106.23. The stock has a market capitalization of £4.45 billion, a PE ratio of 12.39, a PEG ratio of -1.44 and a beta of 0.55.

IG Group announced that its Board of Directors has approved a stock buyback plan on Thursday, September 4th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at IG Group

In other news, insider Breon Corcoran bought 61,499 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were purchased at an average price of GBX 1,075 per share, for a total transaction of £661,114.25. Also, insider Wu Gang purchased 5,576 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were purchased at an average price of GBX 1,071 per share, for a total transaction of £59,718.96. In the last ninety days, insiders bought 85,576 shares of company stock worth $91,889,391. 1.14% of the stock is owned by corporate insiders.

IG Group Company Profile

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. IG Group continues to innovate its offering for the new generation of tomorrow’s
investors through its IG, tastytrade, IG Prime, Spectrum, and DailyFX brands.

Established in 1974, IG Group is a London-headquartered FTSE 250 company offering its clients access to ~19,000
financial markets through its offices spread across Europe, North America, Africa, Asia-Pacific and the Middle East.