IGM Financial Inc. (TSE:IGM) Receives C$43.71 Average PT from Analysts

Shares of IGM Financial Inc. (TSE:IGM) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$43.71.

A number of research analysts recently commented on the stock. BMO Capital Markets decreased their price target on shares of IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. National Bankshares increased their target price on shares of IGM Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. TD Securities increased their target price on shares of IGM Financial from C$42.00 to C$43.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Jefferies Financial Group increased their target price on shares of IGM Financial from C$38.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Scotiabank increased their target price on shares of IGM Financial from C$45.00 to C$46.00 in a research report on Wednesday, July 24th.

IGM Financial Stock Up 0.1 %

Shares of IGM opened at C$38.82 on Wednesday. IGM Financial has a 52 week low of C$30.34 and a 52 week high of C$39.50. The firm has a market cap of C$9.19 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 4.09 and a beta of 1.54. The firm’s 50-day simple moving average is C$38.05 and its 200 day simple moving average is C$36.49. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12.

IGM Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.563 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.25 annualized dividend and a dividend yield of 5.80%. IGM Financial’s dividend payout ratio is 63.38%.

IGM Financial Company Profile

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.