Brent Jason Allen Sells 1,451 Shares of IGM Financial (TSE:IGM) Stock

Key Points

• Brent Jason Allen, a director at IGM Financial, sold a total of C$70,460.56 in stock on August 18, with multiple transactions reflecting an average price of approximately C$48.56 per share.
• IGM Financial announced a quarterly dividend of $0.562 per share, equating to an annualized yield of 4.5%, with a payout ratio of 54.88%.
• Several analysts have recently increased their price targets for IGM Financial shares, with an average target price of C$52.29, reflecting a mix of Buy and Hold ratings from market analysts.

IGM Financial Inc. (TSE:IGM - Get Free Report) Director Brent Jason Allen sold 1,451 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of C$48.56, for a total value of C$70,460.56.

Brent Jason Allen also recently made the following trade(s):

• On Monday, August 18th, Brent Jason Allen sold 1,349 shares of IGM Financial stock. The stock was sold at an average price of C$48.56, for a total value of C$65,507.44.
• On Monday, August 18th, Brent Jason Allen sold 39 shares of IGM Financial stock. The stock was sold at an average price of C$48.53, for a total value of C$1,892.67.

IGM Financial Stock Performance

Shares of IGM Financial stock traded up C$0.23 on Friday, reaching C$51.06. 279,084 shares of the company were exchanged, compared to its average volume of 300,985. The company has a debt-to-equity ratio of 97.24, a quick ratio of 0.31 and a current ratio of 3.61. The company's 50-day moving average is C$46.92 and its two-hundred day moving average is C$44.72. The firm has a market cap of C$12.04 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 4.09 and a beta of 1.05. IGM Financial Inc. has a 1-year low of C$38.63 and a 1-year high of C$51.30.

IGM Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, September 26th will be given a $0.562 dividend. This represents a $2.25 annualized dividend and a yield of 4.4%. IGM Financial's dividend payout ratio is currently 54.88%.

Analyst Ratings Changes

IGM has been the topic of several analyst reports. TD Securities raised their target price on IGM Financial from C$55.00 to C$57.00 and gave the company a "buy" rating in a research report on Friday, August 8th. National Bankshares raised their target price on IGM Financial from C$56.00 to C$58.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. BMO Capital Markets raised their target price on IGM Financial from C$47.00 to C$49.00 and gave the company a "market perform" rating in a research report on Friday, August 8th. Jefferies Financial Group raised their target price on IGM Financial from C$42.00 to C$46.00 in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their target price on IGM Financial from C$46.00 to C$49.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$52.29.

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.