IG Group Expands Treasury Holdings with Recent Share Buyback

IG Group Holdings ( (GB:IGG) ) has issued an update.

IG Group Holdings plc announced the purchase of 50,089 of its ordinary shares from Morgan Stanley & Co. International Plc, as part of a previously announced buyback program. The shares will be held in treasury, increasing the total number of treasury shares to 12,357,560, while the total number of shares in issue remains at 349,200,308. This move reflects IG Group’s ongoing strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (GB:IGG) stock is a Buy with a £10.40 price target. To see the full list of analyst forecasts on IG Group Holdings stock, see the GB:IGG Stock Forecast page.

Spark’s Take on GB:IGG Stock

According to Spark, TipRanks’ AI Analyst, GB:IGG is a Outperform.

IG Group Holdings demonstrates strong financial performance and strategic initiatives like share buybacks that support its market position. The stock is undervalued with a compelling dividend yield. However, challenges in revenue growth and liquidity, coupled with technical indicators suggesting caution, present potential risks. The company offers a balanced investment opportunity with strengths in financial stability but requires careful monitoring of market conditions.

To see Spark’s full report on GB:IGG stock, click here.

More about IG Group Holdings

IG Group Holdings plc operates in the financial services industry, primarily offering online trading services. The company focuses on providing leveraged trading products, including contracts for difference (CFDs) and spread betting, catering to retail and institutional clients globally.

Average Trading Volume: 946,862

Technical Sentiment Signal: Buy

Current Market Cap: £3.89B

See more insights into IGG stock on TipRanks’ Stock Analysis page.