Intermediate Capital Group (LON:ICG) Trading Up 1.4% – Here’s Why

Shares of Intermediate Capital Group plc (LON:ICG) were up 1.4% during trading on Friday . The company traded as high as GBX 2,112 ($25.70) and last traded at GBX 2,100 ($25.55). Approximately 873,950 shares traded hands during trading, an increase of 17% from the average daily volume of 749,680 shares. The stock had previously closed at GBX 2,072 ($25.21).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank started coverage on shares of Intermediate Capital Group in a research note on Wednesday, October 23rd. They set a “buy” rating and a GBX 2,600 ($31.63) target price for the company.

Intermediate Capital Group Price Performance

The company has a market cap of £6.10 billion, a price-to-earnings ratio of 1,312.50 and a beta of 1.97. The firm’s 50 day simple moving average is GBX 2,103.18 and its 200-day simple moving average is GBX 2,132.06.

Intermediate Capital Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 5th were paid a GBX 26.30 ($0.32) dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a yield of 1.17%. Intermediate Capital Group’s dividend payout ratio is presently 4,937.50%.

Intermediate Capital Group Company Profile

ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with a 35-year history, managing $106bn of assets* and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society.