IGM Financial (TSE:IGM) Hits New 1-Year High - Here's What Happened

Key Points

• IGM Financial shares reached a new 52-week high, trading as high as C$92.01 and closing recently at C$90.93, up 4.3%.
• Analysts have raised several price targets, including TD’s increase to C$94 and National Bank’s to C$91, although the overall consensus remains “Hold” with an average target of C$82.
• The company reported quarterly earnings of C$1.41 per share, paid a quarterly dividend of C$0.62, and posted strong profitability metrics; however, multiple insiders have recently sold shares, totaling about C$11.8 million over 90 days.

IGM Financial Inc. (TSE:IGM - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as C$92.01 and last traded at C$90.93, with a volume of 770779 shares trading hands. The stock had previously closed at C$87.16.

More IGM Financial News

Here are the key news stories impacting IGM Financial this week:

• Positive Sentiment: An analyst raised the price target for IGM Financial to C$89.00, indicating a more favorable near-term outlook for the wealth and asset-management company. The target increase provides a supportive signal, although it is below the stock’s recent trading level. IGM Financial Price Target Raised to C$89.00
• Neutral Sentiment: IGM Financial recently reported quarterly earnings of C$1.41 per share and revenue of approximately C$1.07 billion, with a 29.82% net margin and 12.91% return on equity. These results provide a fundamental backdrop for the stock’s strength, though no new operating results were reported in the latest disclosures.
• Negative Sentiment: Insider selling was reported on July 31. Rhonda Goldberg sold 2,599 shares for approximately C$225,489, reducing her direct ownership by 42.94%.
• Negative Sentiment: Director Philip Petursson made several sales totaling at least 2,704 shares, worth approximately C$235,816, at prices around C$87.17–C$87.24. The transactions substantially reduced his reported holdings, including one position that fell by 91.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD lifted their price target on IGM Financial from C$92.00 to C$94.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. BMO Capital Markets upped their price objective on shares of IGM Financial from C$72.00 to C$80.00 in a research note on Wednesday, July 15th. National Bank Financial raised their target price on shares of IGM Financial from C$85.00 to C$91.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Canadian Imperial Bank of Commerce lifted their target price on shares of IGM Financial from C$79.00 to C$85.00 in a research report on Friday, July 10th. Finally, Royal Bank Of Canada boosted their price target on shares of IGM Financial from C$80.00 to C$89.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, IGM Financial currently has an average rating of "Hold" and an average target price of C$82.00.

IGM Financial Trading Up 4.3%

The company has a quick ratio of 0.31, a current ratio of 1.28 and a debt-to-equity ratio of 82.59. The firm has a market cap of C$20.99 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 4.09 and a beta of 1.03. The company has a 50-day moving average price of C$81.63 and a 200 day moving average price of C$73.60.

IGM Financial (TSE:IGM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported C$1.41 earnings per share for the quarter. The firm had revenue of C$1.07 million for the quarter. IGM Financial had a return on equity of 12.91% and a net margin of 29.82%. As a group, research analysts anticipate that IGM Financial Inc. will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were issued a $0.62 dividend. The ex-dividend date was Monday, June 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.7%. IGM Financial's dividend payout ratio is currently 47.87%.

Insider Activity

In other news, Director J. Luke Gould sold 11,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of C$78.40, for a total value of C$862,400.00. Following the completion of the sale, the director directly owned 8,850 shares of the company's stock, valued at C$693,840. This represents a 55.42% decrease in their ownership of the stock. Also, Director Douglas Milne sold 6,620 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$76.98, for a total transaction of C$509,607.60. Following the sale, the director owned 1,036 shares of the company's stock, valued at approximately C$79,751.28. This represents a 86.47% decrease in their ownership of the stock. Insiders have sold 149,342 shares of company stock worth $11,788,791 in the last 90 days. Company insiders own 66.58% of the company's stock.

About IGM Financial

Mackenzie Investments ("Mackenzie") is a Canadian investment management firm with approximately $244 billion (CAD) in assets under management as of December 31, 2025. Mackenzie seeks to create a more invested world by delivering strong investment performance and offering innovative portfolio solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, it is a global asset manager with offices across Canada as well as in Beijing, Boston, Dublin, Hong Kong and London.

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