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

IGM Financial Inc. (TSE:IGM) has been given an average rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$49.29.

A number of brokerages have recently weighed in on IGM. CIBC boosted their price target on IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. National Bankshares boosted 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. Jefferies Financial Group boosted their price target on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a report on Friday, November 1st. TD Securities boosted their price target on IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. Finally, Scotiabank boosted their price target on IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th.

IGM Financial Stock Performance

Shares of IGM opened at C$47.28 on Friday. The business’s 50 day moving average is C$43.26 and its two-hundred day moving average is C$39.79. IGM Financial has a 52-week low of C$32.95 and a 52-week high of C$47.83. The firm has a market cap of C$11.19 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 4.09 and a beta of 1.53. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.563 per share. 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 4.76%. IGM Financial’s payout ratio is currently 63.38%.

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.