IG Group (IGG) Raised to “Buy” at Numis Securities

Numis Securities upgraded shares of IG Group (LON:IGG) to a buy rating in a research report report published on Monday morning. The firm currently has GBX 980 ($12.77) price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Shore Capital restated a hold rating on shares of IG Group in a report on Tuesday, July 24th. Barclays increased their price target on shares of IG Group from GBX 955 ($12.44) to GBX 1,040 ($13.55) and gave the stock an overweight rating in a research note on Wednesday, July 25th. Finally, Liberum Capital cut shares of IG Group to an under review rating in a research note on Friday, June 8th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. IG Group presently has a consensus rating of Buy and a consensus target price of GBX 993 ($12.93).

Shares of IG Group stock opened at GBX 640 ($8.34) on Monday. IG Group has a 12-month low of GBX 487.82 ($6.35) and a 12-month high of GBX 837.50 ($10.91).

The firm also recently declared a dividend, which will be paid on Friday, October 26th. Investors of record on Thursday, September 27th will be paid a dividend of GBX 33.51 ($0.44) per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a yield of 3.92%. This is a boost from IG Group’s previous dividend of $9.69.

In related news, insider Paul Mainwaring sold 29,765 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of GBX 889 ($11.58), for a total transaction of £264,610.85 ($344,680.02).

IG Group Company Profile

IG Group Holdings plc provides leveraged derivatives and spread betting under the IG brand worldwide. Its CFDs (contracts for difference) are derivatives contracts that enable clients to take advantage of changes in an asset's price. The company also offers clients access to a range of risk-mitigation measures, including stops and limits and a limited risk account; and products, such as share dealing and investment portfolios, as well as enables clients to hold their investments in ISAs and SIPPs.

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