Insider Buying: IG Group (LON:IGG) Insider Buys 5,000 Shares of Stock

Key Points

• Insider Clifford Abrahams bought 5,000 shares of IG Group at an average cost of GBX 1,072, totaling £53,600.
• IG Group's stock is currently trading at GBX 1,067.92, with a market cap of £3.72 billion and a significant debt-to-equity ratio of 17.04.
• Several brokerages have set price targets for IG Group, with a consensus target of GBX 1,470.67 and multiple analysts rating the stock as a "Buy."

IG Group Holdings plc (LON:IGG - Get Free Report) insider Clifford Abrahams purchased 5,000 shares of the stock in a transaction dated Tuesday, September 30th. The stock was acquired at an average cost of GBX 1,072 per share, for a total transaction of £53,600.

IG Group Price Performance

LON IGG traded down GBX 9.09 during trading on Wednesday, reaching GBX 1,067.92. 928,293 shares of the company traded hands, compared to its average volume of 2,170,510. The company has a debt-to-equity ratio of 17.04, a quick ratio of 2.40 and a current ratio of 2.47. The stock'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 company 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. IG Group Holdings plc has a 1-year low of GBX 860 and a 1-year high of GBX 1,165.

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

IG Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 4th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

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

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.

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