TP ICAP Group (LON:TCAP) to Repurchase 0 Outstanding Shares

TP ICAP Group (LON:TCAP - Get Free Report) announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 6th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.Get TP ICAP Group alerts:Wall Street Analysts Forecast GrowthA number of equities research analysts have recently weighed in on the company. Shore Capital restated a "buy" rating on shares of TP ICAP Group in a research report on Wednesday. Canaccord Genuity Group upped their price objective on TP ICAP Group from GBX 326 ($4.35) to GBX 374 ($5.00) and gave the company a "buy" rating in a report on Thursday, July 31st.Check Out Our Latest Stock Analysis on TP ICAP GroupTP ICAP Group Stock Down 8.1%TCAP stock traded down GBX 25 ($0.33) during mid-day trading on Wednesday, reaching GBX 282 ($3.77). 6,247,770 shares of the company traded hands, compared to its average volume of 3,067,761. TP ICAP Group has a fifty-two week low of GBX 217 ($2.90) and a fifty-two week high of GBX 315 ($4.21). The firm's 50 day moving average price is GBX 282.42 and its 200 day moving average price is GBX 267.78. The stock has a market cap of £2.12 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 0.49 and a beta of 0.65. TP ICAP Group (LON:TCAP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported GBX 17.60 ($0.24) earnings per share for the quarter. TP ICAP Group had a net margin of 4.54% and a return on equity of 4.82%. On average, analysts anticipate that TP ICAP Group will post 31.0273973 EPS for the current fiscal year. Insiders Place Their BetsIn other TP ICAP Group news, insider Philip Price sold 218,818 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of GBX 261 ($3.49), for a total value of £571,114.98 ($762,910.74). Also, insider Nicolas Breteau sold 362,282 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of GBX 261 ($3.49), for a total transaction of £945,556.02 ($1,263,099.15). Insiders have sold a total of 795,571 shares of company stock worth $207,644,031 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders. TP ICAP Group Company Profile Get Free Report)Further ReadingFive stocks we like better than TP ICAP GroupLow PE Growth Stocks: Unlocking Investment OpportunitiesHow DigitalOcean's Focus Is Fueling Explosive GrowthStock Trading Terms - Stock Terms Every Investor Needs to KnowCan Celsius Stock Keep Its Momentum Going Any Longer?How to Buy Cheap Stocks Step by StepDisney’s Iger-Led Turnaround Gains TractionThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in TP ICAP Group Right Now?Before you consider TP ICAP Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TP ICAP Group wasn't on the list.While TP ICAP Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here