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IG GROUP HOLDINGS PLC (IGG)     

Stan - 21 Jul 2009 11:06

Decent results out today and a good divi 11p (not checked the cover yet though), has and should benefit from an up and down market.

Worth keeping an eye on perhaps, what do you think?


Chart.aspx?Provider=EODIntra&Code=IGG&Si

Stan - 09 Sep 2009 15:36 - 2 of 185

"UK-IG down on disappointing Japan performance."

Down 6.5% on a ex divi, and interim trading statement day, obviously the market not liking the Japan comments and time to profit take perhaps after it's terrific run.

moneyplus - 23 Oct 2009 11:34 - 3 of 185

I've just looked in here--lovely chart Stan. Why not all change over to here!!

Stan - 24 Nov 2009 17:40 - 4 of 185

OK MP as you wish, This one's rebounding nicely don't you think? -):

Stan - 03 Dec 2009 13:58 - 5 of 185

S/P continues to move up nicely ahead of next Wednesday's Trading S/M.

Stan - 09 Dec 2009 08:42 - 6 of 185

Market seems to like the trading statement, up 4% so I'm out.

Stan - 24 Jan 2010 21:51 - 7 of 185

Was looking at a divi play with these this week (paying 5p) but just noticed quite a few Director sells on the 21st. might be worth staying clear for now.

Stan - 29 Jan 2010 10:25 - 8 of 185

Blow me, it's broken the 4 hump!

Stan - 01 Feb 2010 14:05 - 9 of 185

More Director selling: Jonathan Davie this time.. 200000!

Fred1new - 01 Feb 2010 14:48 - 10 of 185

Stan, If I had 200000 shares i would sell a few.

Have a nice day. Will be in touch.

HARRYCAT - 01 Feb 2010 14:58 - 11 of 185

From this week's Shares Mag (Simon Keane):
"Aside from the large disposals by IG (IGG) directors there were few other trades of notable size last week. It is perhaps interesting there were few sales in a week in which the market took a hammering with the FTSE All-Share falling 2.7% over the five-day trading period after US president Barack Obama turned on the banks (see Opinion page 4 and Agenda page 7). As Shares explains, the IG sales should be ignored given the growth story. This view is supported by the fact fund managers at Artemis Investment Management bought a lot of stock the day after the management transactions. Artemis growth contingent are strong advocates of GARP (growth at a reasonable price) and presumably see IGs rating as cheap relative to its earnings potential."

"Chief executive officer Tim Howkins was at the forefront of selling by IG Group (IGG) directors following last weeks interims (19 Jan) with a 2.9 million disposal. Investors should not be alarmed by the raft of sales, which also included a 3.7 million deal by legal director Andrew MacKay, as the retail derivative brokers growth story remains intact. It was encouraging IGs shares hardly budged following Thursdays (21 Jan) dealing disclosures, actually rising a penny. The trades were a mix of pure selling and disposals following the exercise of options. Howkins, for instance, sold an additional 668,222 worth of securities, connected with the exercise of options under IGs long-term incentive plan (LTIP).
IG delivered an encouraging set of halfyear numbers. The core UK financial businesses reported flat revenues at 79.9 million versus 80.4 million last time, with none of the bad debts of the first half of last year so margins were back to form. The unpaid bills were the consequence of the huge volatility in the first half of last year (six months to 30 November 2008). But that volatility had its benefits too as it resulted in an upturn in trading activity with UK financial revenues 7% ahead of the 74.6 million achieved in the first six months of 2008. That IG matched last years UK revenue performance on considerably less volatility is encouraging. With the UK financial business back on a steady keel investors should be confident in future predicted cash flows with the 1.4 billion cap forecast to throw off 140 million of free cash this year according to Singer Capital, equivalent to a 10% free cash flow yield. This money will be put to work expanding the derivatives business into Europe where retail traders only tend to have warrants as a means to getting leverage.
Shares says: Margins are back on track and the firm is throwing off cash again. BUY"

Stan - 01 Feb 2010 16:44 - 12 of 185

Thanks for that HC, helps to explain in detail.

cynic - 01 Feb 2010 20:53 - 13 of 185

5 year chart below shows some pretty hefty fluctuation, but for all that, i think it's a damn good company in it's field ..... however, would be inclined to now wait to see what happens when it gets to the all-time high, which is a bare 15/20p away

Chart.aspx?Provider=EODIntra&Code=IGG&Si

Stan - 04 Feb 2010 23:06 - 14 of 185

I see what you mean Fred -):

It certainly doesn't like that 4 does it?

Stan - 08 Feb 2010 10:00 - 15 of 185

Janus Capital unload 526,304 shares (00.11), with little effect so far on SP -3p.

Stan - 04 Mar 2010 12:54 - 16 of 185

Crept above that 4 again.. how long for is another matter.

HARRYCAT - 31 Mar 2010 12:00 - 17 of 185

Comment from Liberum this morning:
"IG are putting more pressure on the competition by cutting spreads on indices
to 1 point on the FTSE-100 and to 2 points on daily Wall Street. This should drive further market share gains, but we are surprised that the company is cutting spreads given its current position of strength. It suggests competition levels are greater than we expected."

HARRYCAT - 19 Jul 2011 11:59 - 18 of 185

Liberum summary note:
No surprises, results in line � Revenue was �320.4m (2010: �298.6m) in line with company guidance at the pre-close statement on 9th June. Adjusted PBT was �163m vs. Liberum estimate �163.5m, (2010: �157.6m), growth of 3.4%. Adj. EPS was slightly ahead: 32.6p vs. Liberum 31.6p. Excluding Japan, revenue from the financial business increased by 9% with Europe and the Rest of the World providing the highest growth rates.
This was a solid set of results in a tough trading environment of volatility
Current trading � IG has a solid start to its new financial year with good levels of UK activity. Despite low volatility, revenue is ahead vs. June 2010. Customer retention and revenue per client have also stabilised which is a further positive. No upgrades for now � With less than two months into the new financial year we do not expect any upgrades today. Our PBT forecast of £181.9m is 2% ahead of consensus.
Don't be Vixated by the Vix The Vix remains at suppressed levels however we believe investors should look beyond the lack of short term-volatility. IG�s European business could ultimately generate £200m of revenue (63% of FY11 total). Nothing is factored into IG�s valuation for Nadex. We believe that investors should Buy the shares in advance of an increase in volatility.
Valuation Although there is little new news today, we retain our Buy rating on IG with a target price to 525p. IG is a dominant player in a structural growth industry with high barriers to entry. The 42% CAGR since the 2005 IPO warrants a higher rating than the current CY12 P/E of 11x. The Dividend Yield of 5.5% in CY12E is attractive. BUY.

HARRYCAT - 29 Nov 2011 11:59 - 19 of 185

Merrill Lynch note:
"IG Group has released a brief unscheduled trading update indicating that H1 revenue will be "in excess" of £193mn, up over 23% year-on-year and 11% ahead of our estimate of £174mn. This implies Q2 revenue of over £93mn, down only modestly from £100mn in Q1 as the company has continued to benefit from high levels of client activity given the context of elevated market volatility. Costs are tracking in line with management expectations. We note that the company has previously guided that PBT margins will be broadly flat this year reflecting ongoing investment in its technology and mobile offerings. We expect revenues to moderate as volatility subsides but anticipate making low to mid single digit percentage upgrades to our full year EPS forecasts reflecting the strong H1 performance. We retain our Buy rating and price objective of 510p."

HARRYCAT - 21 Aug 2012 16:28 - 20 of 185

Chart.aspx?Provider=EODIntra&Code=IGG&Si

Ex divi 19th Sept '12 (16.75p) which is a pretty good return on a stock at current value 440p!

Stan - 21 Aug 2012 17:30 - 21 of 185

Sure is HC, but the chart needs looking at nearer the event though.
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