IG Group (LON:IGG) Insider Breon Corcoran Buys 13,501 Shares

Key Points

• Insider Breon Corcoran of IG Group bought a total of 75,000 shares across two transactions, demonstrating confidence in the company's stock.
• IG Group's stock price recently dipped by 0.8%, trading at GBX 1,067.92, below its moving averages, which may indicate some market volatility.
• A share repurchase program has been authorized by IG Group's board, suggesting they believe their shares are undervalued.

IG Group Holdings plc (LON:IGG - Get Free Report) insider Breon Corcoran purchased 13,501 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of GBX 1,070 per share, with a total value of £144,460.70.

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

• On Wednesday, October 1st, Breon Corcoran acquired 61,499 shares of IG Group stock. The shares were bought at an average cost of GBX 1,075 per share, with a total value of £661,114.25.

IG Group Stock Down 0.8%

Shares of IGG traded down GBX 9.09 during mid-day trading on Wednesday, reaching GBX 1,067.92. The company's stock had a trading volume of 1,409,279 shares, compared to its average volume of 2,173,042. The business has a fifty day moving average of GBX 1,122.79 and a 200 day moving average of GBX 1,072.41. The company has a market cap of £3.72 billion, a price-to-earnings ratio of 1,016.09, a price-to-earnings-growth ratio of -1.44 and a beta of 0.55. IG Group Holdings plc has a 1 year low of GBX 860 and a 1 year high of GBX 1,165. The company has a quick ratio of 2.40, a current ratio of 2.47 and a debt-to-equity ratio of 17.04.

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

IG Group announced that its board has authorized a share repurchase program on Thursday, September 4th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have commented on IGG. Jefferies Financial Group restated a "buy" rating and set a GBX 1,250 price target on shares of IG Group in a research note on Friday, September 26th. Shore Capital restated a "buy" rating and issued a GBX 1,250 price objective on shares of IG Group in a research report on Thursday, September 25th. Royal Bank Of Canada upped their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of IG Group from GBX 1,225 to GBX 1,350 and gave the company a "buy" rating in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.