Royal Bank Of Canada Reiterates Outperform Rating for IG Group (LON:IGG)

Key Points

• Royal Bank of Canada reiterated its “Outperform” rating on IG Group and maintained a GBX 1,850 price target, implying 36.43% potential upside from the previous close.
• IG Group has a broadly positive analyst outlook: Deutsche Bank and Jefferies also issued “Buy” ratings, while MarketBeat reports a consensus “Buy” rating and GBX 1,338 target price.
• Shares opened at GBX 1,356, up 1.8%. Recent insider purchases included acquisitions by Helen Stevenson and Clifford Abrahams, with insiders buying 43,613 shares over the past 90 days.

IG Group (LON:IGG - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Royal Bank Of Canada in a research report issued on Friday,London Stock Exchange reports. They presently have a GBX 1,850 price target on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 36.43% from the stock's previous close.

IGG has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 2,000 target price on shares of IG Group in a report on Friday, July 31st. 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, July 31st. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of GBX 1,338.

IG Group Stock Up 1.8%

Shares of LON IGG opened at GBX 1,356 on Friday. The company has a quick ratio of 2.40, a current ratio of 162.46 and a debt-to-equity ratio of 31.85. The company has a market cap of £4.47 billion, a P/E ratio of 12.90, a P/E/G ratio of -1.44 and a beta of 0.50. IG Group has a 52 week low of GBX 1,016 and a 52 week high of GBX 1,956. The business has a 50-day simple moving average of GBX 1,729.03 and a two-hundred day simple moving average of GBX 1,566.40.

IG Group (LON:IGG - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported GBX 68.90 earnings per share for the quarter. IG Group had a return on equity of 19.99% and a net margin of 30.26%. Research analysts anticipate that IG Group will post 104.0295119 earnings per share for the current fiscal year.

Insider Buying and Selling at IG Group

In other IG Group news, insider Helen Stevenson acquired 2,197 shares of the business's stock in a transaction dated Monday, August 10th. The stock was bought at an average price of GBX 1,358 per share, with a total value of £29,835.26. Also, insider Clifford Abrahams acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average price of GBX 1,331 per share, for a total transaction of £66,550. Insiders have acquired a total of 43,613 shares of company stock valued at $59,601,278 in the last 90 days. Corporate insiders own 1.18% of the company's stock.

IG Group Company Profile

IG Group Holdings plc ("IG") is a FTSE 100 financial technology company operating at the intersection of retail trading, technology and capital markets. Through its trusted brands - IG, tastytrade, Freetrade and Independent Reserve - the Group serves over 1.3 million customers worldwide, providing leveraged trading, stock trading and investments, and cryptocurrency trading via its proprietary platforms. For more information, visit www.iggroup.com.

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