IGM Financial (TSE:IGM) Hits New 12-Month High on Analyst Upgrade

IGM Financial Inc. (TSE:IGMGet Free Report) hit a new 52-week high on Tuesday after BMO Capital Markets raised their price target on the stock from C$43.00 to C$47.00. The company traded as high as C$44.90 and last traded at C$44.71, with a volume of 124210 shares. The stock had previously closed at C$44.38.

A number of other brokerages also recently weighed in on IGM. Jefferies Financial Group raised their target price on shares of 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. TD Securities lifted their price objective on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday. Royal Bank of Canada upped their target price on shares of IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. National Bankshares lifted their price target on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Scotiabank increased their price objective on IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$49.29.

Check Out Our Latest Report on IGM Financial

IGM Financial Stock Performance

The business’s fifty day simple moving average is C$41.15 and its 200-day simple moving average is C$38.79. The firm has a market cap of C$10.72 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. 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 Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.97%. IGM Financial’s dividend payout ratio is presently 63.38%.

IGM Financial Company Profile

(Get Free Report)

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.

Further Reading

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