IGM Financial (TSE:IGM) Given New C$47.00 Price Target at BMO Capital Markets

IGM Financial (TSE:IGM) had its price objective boosted by BMO Capital Markets from C$43.00 to C$47.00 in a report published on Monday,BayStreet.CA reports.

A number of other research firms have also recently issued reports on IGM. National Bankshares lifted their price target on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. CIBC upped their target price on shares of IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. Scotiabank increased their price target on shares of IGM Financial from C$53.00 to C$56.00 in a research note on Friday, November 8th. Jefferies Financial Group boosted 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 research report on Friday, November 1st. Finally, Royal Bank of Canada upped their price objective on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IGM Financial has a consensus rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Trading Up 2.2 %

Shares of IGM opened at C$45.63 on Monday. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The company has a market cap of C$10.80 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 4.09 and a beta of 1.53. The stock has a fifty day moving average price of C$41.38 and a two-hundred day moving average price of C$38.95. IGM Financial has a 52-week low of C$32.95 and a 52-week high of C$45.74.

IGM Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.563 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a yield of 4.94%. 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.