IGM Financial (TSE:IGM) Shares Pass Above 200 Day Moving Average of $36.67

IGM Financial Inc. (TSE:IGM) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$36.67 and traded as high as C$39.18. IGM Financial shares last traded at C$38.64, with a volume of 204,654 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Scotiabank raised their price objective on IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. BMO Capital Markets lowered their price target on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Jefferies Financial Group increased their price objective on shares of IGM Financial from C$38.00 to C$39.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. Finally, National Bankshares increased their price target on IGM Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, IGM Financial currently has a consensus rating of “Moderate Buy” and an average target price of C$43.71.

IGM Financial Stock Down 0.3 %

The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The company has a market capitalization of C$9.14 billion, a PE ratio of 10.88, a PEG ratio of 4.09 and a beta of 1.54. The company’s 50 day moving average is C$38.26 and its two-hundred day moving average is C$36.67.

IGM Financial (TSE:IGM) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. The firm had revenue of C$816.31 million for the quarter, compared to analysts’ expectations of C$826.00 million.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Friday, September 27th. IGM Financial’s 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.