Shore Capital Reaffirms Buy Rating for IG Group (LON:IGG)

Shore Capital reaffirmed their buy rating on shares of IG Group (LON:IGG) in a report published on Thursday morning, MarketBeat reports.

Separately, Royal Bank of Canada lifted their price target on shares of IG Group from GBX 950 ($12.29) to GBX 1,000 ($12.93) and gave the company an outperform rating in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of GBX 940.50 ($12.16).

IG Group Stock Up 3.7 %

Shares of IG Group stock opened at GBX 934.50 ($12.09) on Thursday. The stock’s 50-day moving average is GBX 822.61 and its 200 day moving average is GBX 762.40. IG Group has a one year low of GBX 600.50 ($7.77) and a one year high of GBX 934.50 ($12.09). The firm has a market cap of £3.49 billion, a price-to-earnings ratio of 1,262.84, a PEG ratio of -1.44 and a beta of 0.52. 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 Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th will be given a GBX 32.64 ($0.42) dividend. This represents a yield of 3.86%. This is an increase from IG Group’s previous dividend of $13.56. The ex-dividend date is Thursday, September 19th. IG Group’s dividend payout ratio is presently 6,216.22%.

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.