IGM Financial Inc. (TSE:IGM) to Issue $0.56 Quarterly Dividend

IGM Financial Inc. (TSE:IGM - Get Free Report) declared a quarterly dividend on Monday, June 30th, TickerTech Dividends reports. Shareholders of record on Thursday, July 31st will be given a dividend of 0.5625 per share by the financial services provider on Thursday, July 31st. This represents a $2.25 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Monday, June 30th.

IGM Financial Stock Down 0.4%

TSE:IGM traded down C$0.19 during trading hours on Friday, hitting C$43.19. 375,907 shares of the stock traded hands, compared to its average volume of 317,396. The firm has a 50 day moving average price of C$43.69 and a 200 day moving average price of C$44.33. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. IGM Financial has a fifty-two week low of C$35.33 and a fifty-two week high of C$47.96. The firm has a market cap of C$10.30 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 4.09 and a beta of 1.53.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of IGM Financial from C$47.00 to C$42.00 in a research note on Monday, April 21st. Royal Bank Of Canada raised shares of IGM Financial to a "hold" rating and set a C$46.00 target price on the stock in a research note on Wednesday, June 18th. Scotiabank boosted their price target on shares of IGM Financial from C$49.00 to C$51.00 in a report on Friday, May 9th. Finally, BMO Capital Markets lowered their price target on shares of IGM Financial from C$47.00 to C$46.00 in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, IGM Financial has a consensus rating of "Hold" and a consensus price target of C$48.71.

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.

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