Insider Selling: IGM Financial (TSE:IGM) Insider Sells C$414,501.25 in Stock

IGM Financial Inc. (TSE:IGM) insider Rhonda Goldberg sold 7,435 shares of IGM Financial stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of C$55.75, for a total value of C$414,501.25.

Rhonda Goldberg also recently made the following trade(s):

• On Tuesday, November 11th, Rhonda Goldberg sold 4,500 shares of IGM Financial stock. The stock was sold at an average price of C$56.55, for a total value of C$254,475.00.
• On Wednesday, November 12th, Rhonda Goldberg sold 7,353 shares of IGM Financial stock. The stock was sold at an average price of C$57.00, for a total transaction of C$419,121.00.
• On Wednesday, November 12th, Rhonda Goldberg sold 8,636 shares of IGM Financial stock. The shares were sold at an average price of C$57.00, for a total transaction of C$492,252.00.

IGM Financial Stock Performance

Shares of IGM stock opened at C$55.61 on Friday. IGM Financial Inc. has a 12 month low of C$38.89 and a 12 month high of C$57.54. The company’s fifty day simple moving average is C$52.58 and its 200-day simple moving average is C$47.70. The firm has a market cap of C$13.19 billion, a PE ratio of 12.78, a P/E/G ratio of 4.09 and a beta of 1.06. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24.

IGM Financial (TSE:IGM) last released its earnings results on Thursday, November 6th. The financial services provider reported C$1.26 earnings per share for the quarter. IGM Financial had a net margin of 27.93% and a return on equity of 12.76%. The business had revenue of C$971.88 million during the quarter. Equities research analysts expect that IGM Financial Inc. will post 4.006816 EPS for the current fiscal year.

IGM Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 31st were given a $0.562 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.0%. IGM Financial’s payout ratio is currently 51.72%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IGM shares. Royal Bank Of Canada upped their target price on IGM Financial from C$55.00 to C$61.00 in a report on Monday, November 10th. Jefferies Financial Group upped their price objective on IGM Financial from C$50.00 to C$54.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. BMO Capital Markets increased their price objective on IGM Financial from C$54.00 to C$57.00 in a report on Monday, November 10th. National Bankshares raised their target price on shares of IGM Financial from C$60.00 to C$68.00 in a research note on Monday, November 10th. Finally, Scotiabank upped their price target on shares of IGM Financial from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, IGM Financial presently has a consensus rating of “Hold” and a consensus price target of C$61.83.

IGM Financial Company Profile

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.