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

Shares of IGM Financial Inc. (TSE:IGM) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, 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 12-month target price among analysts that have issued a report on the stock in the last year is C$49.29.

Several analysts have weighed in on the company. Scotiabank boosted their price objective on IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Jefferies Financial Group lifted their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. National Bankshares increased their price target on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. TD Securities boosted their price objective on shares of IGM Financial from C$46.00 to C$50.00 in a research report on Monday, November 11th. Finally, BMO Capital Markets upped their price objective on shares of IGM Financial from C$43.00 to C$47.00 in a research note on Monday, November 11th.

IGM Financial Trading Up 0.4 %

TSE IGM opened at C$46.42 on Tuesday. The firm has a market cap of C$10.99 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. IGM Financial has a 1-year low of C$32.95 and a 1-year high of C$47.96. The stock has a 50-day moving average of C$44.95 and a 200-day moving average of C$40.82. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99.

IGM Financial Announces Dividend

The company 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 4.85%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s payout ratio is presently 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.