IGM Financial Inc. (IGM) to Issue Quarterly Dividend of $0.56 on January 31st

IGM Financial Inc. (TSE:IGM) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.563 per share by the financial services provider on Friday, January 31st. 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 Price Performance

Shares of TSE IGM opened at C$46.76 on Friday. The stock has a market cap of C$11.07 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. IGM Financial has a fifty-two week low of C$32.95 and a fifty-two week high of C$47.96. The firm’s 50-day simple moving average is C$45.32 and its 200 day simple moving average is C$41.09.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank raised their target price on IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. National Bankshares raised their price objective 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. TD Securities upped their target price on shares of IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. BMO Capital Markets increased their target price on shares of IGM Financial from C$43.00 to C$47.00 in a report on Monday, November 11th. Finally, CIBC boosted their price target on shares of IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$49.29.

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.