IGM Financial Inc. (OTCMKTS:IGIFF) Short Interest Update

IGM Financial Inc. (OTCMKTS:IGIFF) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 462,500 shares, a drop of 26.8% from the September 30th total of 631,600 shares. Based on an average trading volume of 4,800 shares, the short-interest ratio is presently 96.4 days. Based on an average trading volume of 4,800 shares, the short-interest ratio is presently 96.4 days.

Analyst Upgrades and Downgrades

A number of research firms have commented on IGIFF. Scotiabank restated a “sector perform” rating on shares of IGM Financial in a research note on Tuesday, October 28th. Royal Bank Of Canada restated a “sector perform” rating on shares of IGM Financial in a research note on Friday, August 8th. BMO Capital Markets restated a “market perform” rating on shares of IGM Financial in a research note on Friday, August 8th. TD Securities restated a “buy” rating on shares of IGM Financial in a research note on Friday, August 8th. Finally, National Bankshares restated an “outperform” rating on shares of IGM Financial in a research note on Monday, October 27th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, IGM Financial has an average rating of “Hold”.

IGM Financial Trading Up 0.5%

IGM Financial stock opened at $38.50 on Tuesday. IGM Financial has a 1 year low of $25.75 and a 1 year high of $38.90. The firm’s 50 day moving average price is $36.99 and its 200-day moving average price is $33.98.

IGM Financial Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 29th were given a $0.4087 dividend. This is a boost from IGM Financial’s previous dividend of $0.40. This represents a yield of 441.0%. The ex-dividend date was Friday, September 26th. IGM Financial’s dividend payout ratio (DPR) is presently 67.85%.

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.