IG Group (LON:IGG) PT Lowered to GBX 980

IG Group (LON:IGG) had its target price cut by Barclays from GBX 1,110 ($13.75) to GBX 980 ($12.14) in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have an overweight rating on the stock.

IG Group Trading Down 2.0 %

LON IGG opened at GBX 670.50 ($8.31) on Friday. The stock has a market capitalization of £2.68 billion, a price-to-earnings ratio of 779.65, a PEG ratio of -1.44 and a beta of 0.49. IG Group has a 52 week low of GBX 632 ($7.83) and a 52 week high of GBX 844.50 ($10.46). The stock’s 50 day moving average price is GBX 682.45 and its two-hundred day moving average price is GBX 698.41. The company has a debt-to-equity ratio of 15.80, a quick ratio of 2.40 and a current ratio of 2.35.

IG Group Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 21st will be paid a GBX 31.94 ($0.40) dividend. The ex-dividend date is Thursday, September 21st. This is an increase from IG Group’s previous dividend of $13.26. This represents a yield of 4.61%. IG Group’s payout ratio is 5,232.56%.

Insider Activity at IG Group

In related news, insider Jon Noble sold 60,348 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of GBX 678 ($8.40), for a total value of £409,159.44 ($506,824.53). 5.58% of the stock is currently owned by corporate 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.