IG Group (LON:IGG – Free Report) had its target price increased by Royal Bank of Canada from GBX 1,000 ($12.86) to GBX 1,100 ($14.15) in a research report released on Thursday, MarketBeat.com reports. The firm currently has an outperform rating on the stock.
Separately, Shore Capital reiterated a buy rating on shares of IG Group in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, IG Group presently has a consensus rating of Buy and a consensus target price of GBX 965.50 ($12.42).
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IG Group Stock Down 2.7 %
IG Group Increases Dividend
The company also recently disclosed a dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be paid a GBX 32.64 ($0.42) dividend. This represents a dividend yield of 3.86%. This is a boost from IG Group’s previous dividend of $13.56. The ex-dividend date is Thursday, September 19th. IG Group’s dividend payout ratio (DPR) is presently 6,216.22%.
Insider Buying and Selling
In related news, insider Charlie Rozes sold 23,088 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of GBX 910 ($11.71), for a total transaction of £210,100.80 ($270,260.87). 5.62% of the stock is owned by corporate insiders.
IG Group Company Profile
IG Group Holdings plc, a fintech company, engages in the online trading business worldwide. The company offers over the counter (OTC) derivatives, which include CFD (Contracts For Difference) that enable traders to take advantage of changes in an asset's price without owning the asset itself, as well as access to a range of risk-mitigation measures, including stops and limits, and negative-balance protection; and OTC FX and options, and spread bets, under IG and IG Prime brands.
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