IG CEO Buys £150,000 in Company Shares

June Felix has now spent approximately £350,000 on IG stock

IG Group CEO June Felix has purchased another set of shares.

A document published by the retail broker on its investor relations portal indicates that Felix bought 25,800 ordinary shares in the company on Tuesday.

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With each share valued at £5.7656 ($7.20), this means the IG CEO has invested just under £150,000 ($187,330) in her own company.

This is not the first time that Felix, who was appointed CEO of IG in October of last year, has bought shares in the group.

In January of this year, she bought 17,000 IG shares worth just under £100,000.

That share buy came on the heels of a reasonably positive half-year report, in which Felix stated that, despite a six percent drop in trading revenue, the firm was still on track to return to growth after 2019.

An IG reassurance policy

The IG executive also bought 17,000 shares, worth just over £100,000, at the end of October last year. That purchase, which was announced in November, was made just after she was appointed CEO.

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Like in January, Felix’s most recent share purchase comes shortly after IG released a set of financial results.

On this occasion, the broker published details of its operations for the past year.

The group saw a 16 percent decline in revenues last year, which it largely attributed to regulations put in place by the European Securities and Markets Authority last August.

Felix’s purchase can be seen as another effort to reassure investors, who may be feeling uncertain as to whether or not IG can repeat past performances in the wake of heavy-handed regulatory changes.

Since taking up her role, the IG CEO has repeatedly said she sees the group returning to growth after the end of the 2019 fiscal year.

This may not be an unreasonable view either. A 16 percent decline in revenue isn’t great but, considering the past year has seen massive regulatory changes and an extensive period of low volatility, IG has done well for itself.

 

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