IGM Financial (TSE:IGM) Price Target Raised to C$50.00

IGM Financial (TSE:IGM) had its target price upped by TD Securities from C$46.00 to C$50.00 in a research note released on Monday,BayStreet.CA reports.

Other analysts have also recently issued reports about the company. Jefferies Financial Group increased their price objective on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets decreased their price objective on IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Scotiabank increased their price objective on IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. CIBC increased their price objective on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. Finally, National Bankshares raised their price target on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$49.29.

IGM Financial Stock Down 1.4 %

IGM Financial stock opened at C$44.65 on Monday. IGM Financial has a twelve month low of C$32.36 and a twelve month high of C$45.36. The stock has a 50 day moving average of C$41.25 and a two-hundred day moving average of C$38.87. 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 stock has a market capitalization of C$10.57 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 4.09 and a beta of 1.53.

IGM Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.563 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.25 annualized dividend and a yield of 5.04%. 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.