TP ICAP Group (LON:TCAP) Trading Up 0.8% - Here's What Happened

Shares of TP ICAP Group PLC (LON:TCAP - Get Free Report) were up 0.8% during mid-day trading on Monday . The company traded as high as GBX 263 ($3.61) and last traded at GBX 262 ($3.60). Approximately 2,623,490 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 3,416,238 shares. The stock had previously closed at GBX 260 ($3.57).

Wall Street Analyst Weigh In

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

TP ICAP Group Stock Up 2.1%

The business has a 50-day moving average of GBX 260.45 and a 200-day moving average of GBX 260.37. The stock has a market cap of £2.05 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.49 and a beta of 0.65.

TP ICAP Group announced that its board has authorized a share buyback program on Tuesday, March 11th that permits the company to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Philip Price sold 218,818 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of GBX 261 ($3.58), for a total value of £571,114.98 ($783,745.00). Also, insider Nicolas Breteau sold 52,349 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of GBX 257 ($3.53), for a total transaction of £134,536.93 ($184,625.95). Insiders sold a total of 847,920 shares of company stock worth $221,097,724 in the last three months. 0.57% of the stock is owned by insiders.

TP ICAP Group Company Profile