Decent results out today and a good divi 11p (not checked the cover yet though), has and should benefit from an up and down market.

Worth keeping an eye on perhaps, what do you think?

Comment from Liberum this morning:
"IG are putting more pressure on the competition by cutting spreads on indices
to 1 point on the FTSE-100 and to 2 points on daily Wall Street. This should drive further market share gains, but we are surprised that the company is cutting spreads given its current position of strength. It suggests competition levels are greater than we expected."

Liberum summary note:
No surprises, results in line � Revenue was �320.4m (2010: �298.6m) in line with company guidance at the pre-close statement on 9th June. Adjusted PBT was �163m vs. Liberum estimate �163.5m, (2010: �157.6m), growth of 3.4%. Adj. EPS was slightly ahead: 32.6p vs. Liberum 31.6p. Excluding Japan, revenue from the financial business increased by 9% with Europe and the Rest of the World providing the highest growth rates.
This was a solid set of results in a tough trading environment of volatility
Current trading � IG has a solid start to its new financial year with good levels of UK activity. Despite low volatility, revenue is ahead vs. June 2010. Customer retention and revenue per client have also stabilised which is a further positive. No upgrades for now � With less than two months into the new financial year we do not expect any upgrades today. Our PBT forecast of £181.9m is 2% ahead of consensus.
Don't be Vixated by the Vix The Vix remains at suppressed levels however we believe investors should look beyond the lack of short term-volatility. IG�s European business could ultimately generate £200m of revenue (63% of FY11 total). Nothing is factored into IG�s valuation for Nadex. We believe that investors should Buy the shares in advance of an increase in volatility.
Valuation Although there is little new news today, we retain our Buy rating on IG with a target price to 525p. IG is a dominant player in a structural growth industry with high barriers to entry. The 42% CAGR since the 2005 IPO warrants a higher rating than the current CY12 P/E of 11x. The Dividend Yield of 5.5% in CY12E is attractive. BUY.

Merrill Lynch note:
"IG Group has released a brief unscheduled trading update indicating that H1 revenue will be "in excess" of £193mn, up over 23% year-on-year and 11% ahead of our estimate of £174mn. This implies Q2 revenue of over £93mn, down only modestly from £100mn in Q1 as the company has continued to benefit from high levels of client activity given the context of elevated market volatility. Costs are tracking in line with management expectations. We note that the company has previously guided that PBT margins will be broadly flat this year reflecting ongoing investment in its technology and mobile offerings. We expect revenues to moderate as volatility subsides but anticipate making low to mid single digit percentage upgrades to our full year EPS forecasts reflecting the strong H1 performance. We retain our Buy rating and price objective of 510p."

Ex divi 19th Sept '12 (16.75p) which is a pretty good return on a stock at current value 440p!

Sure is HC, but the chart needs looking at nearer the event though.

Tricky to know where the market is heading over the next few weeks, but assuming nothing catastrophic hits the headlines (nude pics of Prince Harry don't qualify), I would like to pick up some IGG at around 420p. Only 28 days to ex-divi.

Good point about being careful in the near future, I've had my best summer ever up to now and don't want to spoil it, so my gut feeling is to unload for now in general, sit on the fence and see how it unfolds.. but divvies like these do make one think about possible opportunities.

IMS due early september.

hope george is watching this one, will it go to 420 or even 410 for bottom?? 16.75p div

426p currently. Bank holiday coming up. Looking for 415p.....hopefully!

Hold up boys! just seen the Divvy Cover:http://www.moneyam.com/fundamentals/index.php?display=dividends&stockCode=IGG 1.5 Cover is usually considered a minimum, so I'm currently hesitating until I know more.. what da yar say?

PE of 11.4, Div cover of 1.7,, Div yield 5.2%, EPS growth f/c 1% for 2012/13.
It's just my intention to try and get in as low as possible, get the divi and get out pdq, but if I get in and show enough of a profit before the divi, then I will sell. I agree that post divi, the sp will probably take a biggish hit.

Where did you get those numbers from H, are they up to date? as mine are from Thomsons and I had assumed current.

They came from digitallook.
I checked with LSE web page and figures are very similar. Div cover is 1.68.

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB00B06QFB75GBGBXSTMM

HARRY IGG dividend policy is to pay out 60% of diluted earnings per share, so dividend cover should always remain around where it is now.

Cheers h. Sounds good to me.

Cheers H, Me to, consistent over the years as well.

took plunge and bought at 426p doesn't seem to want to drop anymore and Sept coing up fast.,.

Yes, I think you may be right Bb. Am still watching and hoping to buy at 420p, but it's just me being bloody minded really 'cos I don't think 6p is going to make a great deal of difference in the long run. Just satisfying to buy at the bottom!

Also waiting for 420. Nice divi 16.7p a share. All the best Balerboy.