Share Repurchase Plan Initiated by IG Group (LON:IGG) Board of Directors

IG Group (LON:IGG) announced that its Board of Directors has initiated a share buyback program on Thursday, September 4th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Shore Capital restated a “buy” rating and set a GBX 1,200 price objective on shares of IG Group in a research report on Thursday, July 24th. Canaccord Genuity Group raised their price objective on IG Group from GBX 782 to GBX 1,099 and gave the company a “buy” rating in a research report on Friday, May 30th. Royal Bank Of Canada raised their price objective on IG Group from GBX 1,150 to GBX 1,275 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Berenberg Bank restated a “buy” rating and set a GBX 2,600 price objective on shares of IG Group in a research report on Thursday, May 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on IG Group from GBX 1,225 to GBX 1,350 and gave the company a “buy” rating in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of GBX 1,504.80.

IG Group Stock Performance

IG Group stock opened at GBX 1,137 on Friday. The firm has a 50 day simple moving average of GBX 1,110.24 and a 200-day simple moving average of GBX 1,052.71. IG Group has a 1-year low of GBX 860 and a 1-year high of GBX 1,158. 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 stock has a market cap of £3.95 billion, a price-to-earnings ratio of 1,081.83, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55.

IG Group (LON:IGG) last announced its quarterly earnings data on Thursday, July 24th. The company reported GBX 114.10 earnings per share for the quarter. IG Group had a net margin of 58.42% and a return on equity of 30.53%. On average, analysts expect that IG Group will post 104.0295119 EPS for the current year.

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.