TP ICAP Group (LON:TCAP) Stock Crosses Below 50 Day Moving Average – What’s Next?

TP ICAP Group PLC (LON:TCAP) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 265.52 ($3.43) and traded as low as GBX 255.50 ($3.30). TP ICAP Group shares last traded at GBX 260 ($3.35), with a volume of 1,059,343 shares traded.

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a “buy” rating on shares of TP ICAP Group in a research report on Thursday, March 20th.

TP ICAP Group Stock Performance

The firm has a market cap of £1.76 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 0.49 and a beta of 0.65. The firm’s 50 day moving average is GBX 264.34 and its 200-day moving average is GBX 254.84.

TP ICAP Group (LON:TCAP) last announced its quarterly earnings results on Wednesday, March 12th. The company reported GBX 31.80 ($0.41) earnings per share for the quarter. TP ICAP Group had a return on equity of 4.82% and a net margin of 4.54%. As a group, research analysts predict that TP ICAP Group PLC will post 31.0273973 EPS for the current year.

TP ICAP Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 10th will be given a dividend of GBX 11.30 ($0.15) per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a yield of 4.28%. This is a boost from TP ICAP Group’s previous dividend of $4.80. TP ICAP Group’s dividend payout ratio is presently 116.48%.

TP ICAP Group declared that its board has authorized a share buyback program on Tuesday, March 11th that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Nicolas Breteau sold 52,349 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of GBX 257 ($3.32), for a total transaction of £134,536.93 ($173,551.25). 0.57% of the stock is currently owned by company insiders.

About TP ICAP Group