IG Group (LON:IGG) to Repurchase 0 Stock

IG Group (LON:IGG) declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 1st, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

IG Group Stock Performance

LON:IGG traded up GBX 20.25 during midday trading on Wednesday, reaching GBX 1,452.25. The stock had a trading volume of 725,560 shares, compared to its average volume of 4,222,494. The company has a quick ratio of 2.40, a current ratio of 3.43 and a debt-to-equity ratio of 30.81. The stock has a market cap of £4.86 billion, a P/E ratio of 13.82, a P/E/G ratio of -1.44 and a beta of 0.64. The firm has a fifty day simple moving average of GBX 1,366.44 and a two-hundred day simple moving average of GBX 1,233.54. IG Group has a 12-month low of GBX 860 and a 12-month high of GBX 1,477.

IG Group (LON:IGG) last announced its quarterly earnings data on Thursday, March 19th. The company reported GBX 196.66 EPS for the quarter. IG Group had a net margin of 35.26% and a return on equity of 20.91%. On average, equities analysts expect that IG Group will post 104.0295119 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft began coverage on IG Group in a research report on Tuesday, December 2nd. They set a “buy” rating and a GBX 1,300 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of GBX 1,302.

IG Group Company Profile

IG Group?(LSEG:IGG) is an innovative, global fintech company that delivers dynamic online trading platforms and a
robust educational ecosystem to?power the pursuit of financial freedom for the ambitious. For nearly five decades,
the Company has evolved its technology, risk management, financial products, content, and platforms to meet the
needs of its retail and institutional clients. IG Group continues to innovate its offering for the new generation of tomorrow’s
investors through its IG, tastytrade, IG Prime, Spectrum, and DailyFX brands.

Established in 1974, IG Group is a London-headquartered FTSE 250 company offering its clients access to ~19,000
financial markets through its offices spread across Europe, North America, Africa, Asia-Pacific and the Middle East.