TP ICAP Group (LON:TCAP) Given "Buy" Rating at Shore Capital

Key Points

• Shore Capital has restated its "buy" rating for TP ICAP Group, indicating continued confidence in the company's stock performance.
• Canaccord Genuity has increased its price target for TP ICAP Group shares from GBX 326 ($4.33) to GBX 374 ($4.97), also maintaining a "buy" rating.
• Insider sales have been significant, with a total of 795,571 shares sold valued at approximately $207.6 million over the past three months, highlighting potential concerns about insider confidence in the stock.

Shore Capital reaffirmed their buy rating on shares of TP ICAP Group (LON:TCAP - Free Report) in a report issued on Wednesday morning, MarketBeat Ratings reports.

Separately, Canaccord Genuity Group lifted their price objective on TP ICAP Group from GBX 326 ($4.38) to GBX 374 ($5.03) and gave the company a "buy" rating in a research note on Thursday, July 31st.

TP ICAP Group Stock Down 1.2%

LON:TCAP traded down GBX 3.50 ($0.05) during trading hours on Wednesday, hitting GBX 282.50 ($3.80). 2,502,420 shares of the company's stock traded hands, compared to its average volume of 3,060,495. The firm has a market cap of £2.13 billion, a P/E ratio of 21.94, a P/E/G ratio of 0.49 and a beta of 0.65. TP ICAP Group has a 52 week low of GBX 217 ($2.92) and a 52 week high of GBX 315 ($4.24). The business's fifty day simple moving average is GBX 283.34 and its two-hundred day simple moving average is GBX 267.90.

TP ICAP Group (LON:TCAP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported GBX 17.60 ($0.24) earnings per share (EPS) for the quarter. TP ICAP Group had a return on equity of 4.82% and a net margin of 4.54%. On average, analysts expect that TP ICAP Group will post 31.0273973 EPS for the current year.

TP ICAP Group announced that its board has authorized a share buyback plan on Wednesday, August 6th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at TP ICAP Group

In other TP ICAP Group news, insider Robin Stewart sold 214,471 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of GBX 261 ($3.51), for a total transaction of £559,769.31 ($752,884.08). Also, insider Nicolas Breteau sold 362,282 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of GBX 261 ($3.51), for a total value of £945,556.02 ($1,271,763.31). Insiders have sold 795,571 shares of company stock worth $207,644,031 over the last 90 days. Corporate insiders own 0.57% of the company's stock.

About TP ICAP Group