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IG Group Holdings plc's stock price surpassed its 200-day moving average, trading at GBX 969 ($12.58) with a volume of 638,180 shares. Analysts maintain a "buy" rating, despite the company recently cutting its dividend, which yielded 1.37%. The firm reported a strong return on equity of 30.53% and a net margin of 58.42%.
IG Group Holdings plc's stock price surpassed its 200-day moving average, trading at GBX 961 ($12.44) with a volume of over 46 million shares. Analysts maintain a "buy" rating, while the company recently cut its dividend to GBX 13.86 ($0.18), yielding 1.37%. Insider Clifford Abrahams purchased 5,000 shares at GBX 1,013 ($13.11) each.
UK banks, including Barclays, Lloyds, and NatWest, are set to gain over £50bn from structural hedging, a strategy that manages interest rate risk through interest rate swaps. This approach, particularly the "caterpillar" hedge, allows banks to stabilize revenues and predict profitability amid fluctuating rates. Analysts highlight the varying strategies among banks, with Lloyds employing a dynamic method, while Barclays and NatWest favor a more mechanical approach, positioning them well for future interest rate changes.
IG Group has granted conditional awards to CFO Clifford Abrahams, effective from January 24, 2025, as part of his compensation for forfeited incentives from Virgin Money UK plc. These buy-out awards, approved by the Remuneration Committee, will vest with his continued service and are not tied to performance conditions. Abrahams, who joined IG Group in December 2024, has an extensive background in finance, including roles at ABN AMRO Bank and Delta Lloyd Group, and holds an MBA from Wharton and an MA in Economics from Cambridge.
IG Group reported a 41% rise in pre-tax profits to £249.3 million for the first half of the year, driven by an 11% increase in revenues to £522.5 million, aided by lower costs after job cuts. However, CEO Breon Corcoran noted a decline in active clients and emphasized the need for further growth despite improved market conditions.
Clifford Abrahams has been appointed Chief Financial Officer of IG Group Holdings PLC, effective December 16, 2024. He transitions from his role at Virgin Money UK, which is currently being acquired by Nationwide Building Society. Abrahams brings extensive financial expertise from previous positions at ABN Amro Bank NV, Delta Lloyd Group, Aviva, and Morgan Stanley, and will focus on enhancing IG Group's financial strategies amid its global growth and digital trading expansion. Gergely Zaborszky will succeed him at Virgin Money.
Clifford Abrahams has been appointed Chief Financial Officer and Executive Director of IG Group, effective December 16, 2024. With extensive experience as a CFO at major financial institutions, including Virgin Money and ABN AMRO, Abrahams aims to drive growth in fragmented markets alongside CEO Breon Corcoran. William Mead has also recently taken on the role of Head of Operations at IG Group.
IG Group has appointed Clifford Abrahams as Chief Financial Officer, effective December 16, following his departure from Virgin Money UK, which was recently acquired by Nationwide Building Society for approximately £2.9 billion. Abrahams has served as CFO of Virgin Money since 2021 and previously held similar roles at ABN Amro Bank and Delta Lloyd Group. Gergely Zaborszky will succeed him at Virgin Money, currently overseeing financial planning and capital management.
IG Group has appointed Clifford Abrahams as chief financial officer and executive director, effective December 16. Abrahams, who has extensive experience in finance, previously served as group CFO at Virgin Money UK, ABN AMRO Bank, and Delta Lloyd Group. CEO Breon Corcoran expressed confidence in Abrahams' ability to contribute to the company's growth.
IG Group has appointed Clifford Abrahams as its new Chief Financial Officer, set to begin in December. Abrahams currently serves as CFO and Executive Director at Virgin Money UK Plc and has held senior financial roles at ABN AMRO, Aviva, and Morgan Stanley. He holds an MBA from the Wharton School and a degree from the University of Cambridge.
Clifford Abrahams
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ig group shares rise above moving average amid analyst buy rating
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