TP ICAP Group (LON:TCAP) Receives "Buy" Rating from 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 reiterated their buy rating on shares of TP ICAP Group (LON:TCAP - Free Report) in a research report sent to investors on Wednesday morning, MarketBeat reports.

Separately, Canaccord Genuity Group upped their target price on TP ICAP Group from GBX 326 ($4.38) to GBX 374 ($5.03) and gave the stock a "buy" rating in a report on Thursday, July 31st.

TP ICAP Group Stock Performance

TP ICAP Group stock traded up GBX 4 ($0.05) during mid-day trading on Wednesday, hitting GBX 286 ($3.85). The company's stock had a trading volume of 2,521,452 shares, compared to its average volume of 3,064,167. The company has a 50 day moving average of GBX 282.94 and a 200-day moving average of GBX 267.88. TP ICAP Group has a one year low of GBX 217 ($2.92) and a one year high of GBX 315 ($4.24). The stock has a market cap of £2.15 billion, a PE ratio of 22.21, a P/E/G ratio of 0.49 and a beta of 0.65.

TP ICAP Group (LON:TCAP - Get Free Report) last released 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 net margin of 4.54% and a return on equity of 4.82%. On average, equities research analysts forecast that TP ICAP Group will post 31.0273973 EPS for the current fiscal year.

TP ICAP Group announced that its board has approved a stock repurchase program on Wednesday, August 6th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at TP ICAP Group

In other TP ICAP Group news, insider Robin Stewart sold 214,471 shares of TP ICAP Group stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of GBX 261 ($3.51), for a total value of £559,769.31 ($752,782.83). Also, insider Philip Price sold 218,818 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 £571,114.98 ($768,040.59). Over the last ninety days, insiders sold 795,571 shares of company stock worth $207,644,031. 0.57% of the stock is owned by corporate insiders.

About TP ICAP Group