IGM Financial (TSE:IGM) Hits New 52-Week High After Analyst Upgrade

Key Points

• IGM Financial hit a new 52-week high after Canadian Imperial Bank of Commerce raised its price target to C$85 from C$79, with the stock trading as high as C$84.93.
• Several analysts have recently lifted their targets on the stock, including TD and National Bank Financial, though MarketBeat still shows an overall Hold consensus and an average target of C$74.88.
• The company also announced a quarterly dividend of C$0.62 per share, payable July 31, implying an annualized yield of about 3.0%.

IGM Financial Inc. (TSE:IGM - Get Free Report)'s stock price hit a new 52-week high during trading on Monday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$79.00 to C$85.00. The stock traded as high as C$84.93 and last traded at C$83.97, with a volume of 23917 shares trading hands. The stock had previously closed at C$84.00.

Several other analysts also recently issued reports on the stock. TD increased their price objective on shares of IGM Financial from C$80.00 to C$86.00 and gave the company a "buy" rating in a research report on Monday, May 11th. BMO Capital Markets lifted their price objective on shares of IGM Financial from C$68.00 to C$72.00 in a research note on Wednesday, April 29th. National Bank Financial boosted their target price on shares of IGM Financial from C$82.00 to C$85.00 in a research report on Wednesday, April 29th. Finally, Scotiabank upped their target price on shares of IGM Financial from C$69.00 to C$76.00 in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of C$74.88.

Insider Transactions at IGM Financial

In other IGM Financial news, Director James Patrick O'sullivan sold 700 shares of IGM Financial stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$77.90, for a total transaction of C$54,530.00. Following the sale, the director directly owned 93,248 shares in the company, valued at C$7,264,019.20. The trade was a 0.75% decrease in their position. In the last quarter, insiders sold 144,039 shares of company stock worth $11,327,486. 66.58% of the stock is owned by insiders.

IGM Financial Trading Down 0.3%

The firm has a market cap of C$19.46 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. The business's 50 day moving average is C$78.95 and its 200-day moving average is C$70.94. The company has a quick ratio of 0.31, a current ratio of 1.36 and a debt-to-equity ratio of 81.91.

IGM Financial (TSE:IGM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported C$1.20 EPS for the quarter. The firm had revenue of C$1.00 million for the quarter. IGM Financial had a net margin of 29.97% and a return on equity of 13.19%. As a group, analysts forecast that IGM Financial Inc. will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 31st will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. IGM Financial's dividend payout ratio (DPR) is presently 47.48%.

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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