TP ICAP Group (LON:TCAP) Sets New 1-Year High - Still a Buy?

Shares of TP ICAP Group PLC (LON:TCAP - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 288.50 ($3.94) and last traded at GBX 277 ($3.78), with a volume of 6145520 shares. The stock had previously closed at GBX 274 ($3.74).

Analyst Upgrades and Downgrades

Separately, Shore Capital reiterated a "buy" rating on shares of TP ICAP Group in a report on Monday, June 2nd.

TP ICAP Group Trading Down 0.9%

The company has a market capitalization of £2.10 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.49 and a beta of 0.65. The company has a fifty day moving average of GBX 263.91 and a 200-day moving average of GBX 261.08.

TP ICAP Group announced that its board has initiated a stock buyback program on Tuesday, March 11th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Philip Price sold 218,818 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of GBX 261 ($3.56), for a total transaction of £571,114.98 ($779,253.62). Also, insider Nicolas Breteau sold 362,282 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of GBX 261 ($3.56), for a total value of £945,556.02 ($1,290,156.94). In the last three months, insiders have sold 795,571 shares of company stock worth $207,644,031. Insiders own 0.57% of the company's stock.

About TP ICAP Group