Royal Bank Of Canada Raises IGM Financial (TSE:IGM) Price Target to C$55.00

IGM Financial (TSE:IGM) had its price objective hoisted by equities researchers at Royal Bank Of Canada from C$52.00 to C$55.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 2.80% from the company’s previous close.

IGM has been the subject of several other reports. TD Securities lifted their target price on shares of IGM Financial from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. BMO Capital Markets lifted their target price on shares of IGM Financial from C$47.00 to C$49.00 and gave the stock a “market perform” rating in a research note on Friday, August 8th. National Bankshares lifted their price target on shares of IGM Financial from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Monday. Jefferies Financial Group lifted their price target on shares of IGM Financial from C$42.00 to C$46.00 in a report on Wednesday, July 30th. Finally, Scotiabank lifted their price target on shares of IGM Financial from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$56.00.

IGM Financial Stock Down 1.9%

IGM stock opened at C$53.50 on Tuesday. The stock has a market capitalization of C$12.62 billion, a P/E ratio of 13.05, a PEG ratio of 4.09 and a beta of 1.07. The company has a debt-to-equity ratio of 97.24, a quick ratio of 0.31 and a current ratio of 3.61. IGM Financial has a one year low of C$38.89 and a one year high of C$56.01. The company has a 50 day moving average price of C$51.19 and a two-hundred day moving average price of C$46.68.

Insider Buying and Selling at IGM Financial

In related news, Director Brent Jason Allen sold 1,451 shares of IGM Financial stock in a transaction on Monday, August 18th. The shares were sold at an average price of C$48.56, for a total transaction of C$70,460.56. In the last quarter, insiders have sold 2,840 shares of company stock worth $137,909. Insiders own 66.58% of the company’s stock.

About IGM Financial

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services.