IGM Financial Inc. (TSE:IGM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of IGM Financial Inc. (TSE:IGM) have been given an average rating of “Moderate Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$49.29.

A number of equities research analysts recently weighed in on the company. National Bankshares upped their price target on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. CIBC raised their price target on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. Scotiabank boosted their price objective on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, TD Securities upped their price target on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th.

IGM Financial Trading Up 0.7 %

Shares of IGM opened at C$46.76 on Tuesday. IGM Financial has a twelve month low of C$32.95 and a twelve month high of C$47.96. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The firm has a market capitalization of C$11.07 billion, a P/E ratio of 13.17, a PEG ratio of 4.09 and a beta of 1.53. The firm’s 50-day moving average is C$45.32 and its two-hundred day moving average is C$41.09.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Tuesday, December 31st. IGM Financial’s dividend payout ratio is presently 63.38%.

About IGM Financial

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.