IGM Financial (TSE:IGM) Price Target Raised to C$56.00 at Scotiabank

IGM Financial (TSE:IGM) had its price objective raised by Scotiabank from C$53.00 to C$56.00 in a research report report published on Friday morning,BayStreet.CA reports.

IGM has been the subject of several other reports. BMO Capital Markets lowered their price objective on IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Jefferies Financial Group boosted their target price on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price target on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Finally, National Bankshares boosted their target price on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Stock Performance

Shares of IGM stock opened at C$44.38 on Friday. IGM Financial has a 1-year low of C$31.92 and a 1-year high of C$44.85. 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 50-day moving average of C$41.03 and a 200-day moving average of C$38.71. The stock has a market cap of C$10.50 billion, a price-to-earnings ratio of 12.50, 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. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.563 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.07%. 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.