Analysts Set IGM Financial Inc. (TSE:IGM) Target Price at C$49.29

Shares of IGM Financial Inc. (TSE:IGM) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$49.29.

Several equities research analysts have issued reports on IGM shares. Scotiabank lifted their target price on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Jefferies Financial Group lifted their price objective on shares of IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, November 1st. National Bankshares increased their target price on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. Finally, CIBC upped their price objective on IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th.

IGM Financial Stock Performance

Shares of IGM opened at C$47.31 on Friday. IGM Financial has a 12-month low of C$32.95 and a 12-month high of C$47.83. 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 company has a market cap of C$11.20 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The stock has a 50-day moving average price of C$43.12 and a 200-day moving average price of C$39.71.

IGM Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Tuesday, December 31st. IGM Financial’s dividend payout ratio (DPR) 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.