IGM Financial (TSE:IGM) Stock Passes Above 200-Day Moving Average – What’s Next?

IGM Financial Inc. (TSE:IGM) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$41.80 and traded as high as C$45.15. IGM Financial shares last traded at C$44.99, with a volume of 216,429 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. CIBC increased their target price on shares of IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. National Bankshares raised their target price on shares of 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. Jefferies Financial Group upped their price target on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, November 1st. TD Securities lifted their price objective on IGM Financial from C$46.00 to C$50.00 in a research report on Monday, November 11th. Finally, BMO Capital Markets upped their target price on IGM Financial from C$43.00 to C$47.00 in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, IGM Financial presently has an average rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Trading Down 0.4 %

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 company has a market cap of C$10.60 billion, a PE ratio of 12.62, a P/E/G ratio of 4.09 and a beta of 1.53. The company has a fifty day simple moving average of C$46.16 and a two-hundred day simple moving average of C$41.90.

IGM Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 annualized dividend and a dividend yield of 5.03%. IGM Financial’s dividend payout ratio (DPR) is 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.