IG Group (LON:IGG) Insider Breon Corcoran Acquires 61,499 Shares

Key Points

• IG Group insider Breon Corcoran purchased a total of 61,499 shares at an average price of GBX 1,075 per share, amounting to a total investment of £661,114.25.
• The company's stock has a current market cap of £3.72 billion and a price-to-earnings ratio of 1,016.09, indicating significant valuation factors.
• Multiple analysts have issued a buy rating on IG Group, with price targets ranging from GBX 1,250 to 1,350, reflecting strong confidence in the stock.

IG Group Holdings plc (LON:IGG - Get Free Report) insider Breon Corcoran purchased 61,499 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was bought at an average price of GBX 1,075 per share, for a total transaction of £661,114.25.

Breon Corcoran also recently made the following trade(s):

• On Tuesday, September 30th, Breon Corcoran purchased 13,501 shares of IG Group stock. The stock was bought at an average price of GBX 1,070 per share, for a total transaction of £144,460.70.

IG Group Stock Performance

LON IGG traded down GBX 9.09 on Wednesday, hitting GBX 1,067.92. 1,409,279 shares of the company's stock were exchanged, compared to its average volume of 2,173,042. The firm's 50-day moving average price is GBX 1,122.79 and its two-hundred day moving average price is GBX 1,072.41. The firm has a market cap of £3.72 billion, a price-to-earnings ratio of 1,016.09, a P/E/G ratio of -1.44 and a beta of 0.55. The company has a debt-to-equity ratio of 17.04, a current ratio of 2.47 and a quick ratio of 2.40. IG Group Holdings plc has a fifty-two week low of GBX 860 and a fifty-two week high of GBX 1,165.

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

IG Group announced that its board has initiated a share repurchase plan on Thursday, September 4th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 1,250 target price on shares of IG Group in a research note on Friday, September 26th. Deutsche Bank Aktiengesellschaft increased their price target on IG Group from GBX 1,225 to GBX 1,350 and gave the stock a "buy" rating in a research note on Friday, August 8th. Shore Capital reissued a "buy" rating and set a GBX 1,250 price target on shares of IG Group in a research note on Thursday, September 25th. Finally, Royal Bank Of Canada increased their price target on IG Group from GBX 1,150 to GBX 1,275 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of GBX 1,470.67.

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.

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