Shares of IGM Financial Inc. (TSE:IGM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$52.11 and last traded at C$52.10, with a volume of 74749 shares changing hands. The stock had previously closed at C$51.35.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of IGM Financial from C$47.00 to C$49.00 and gave the company a "market perform" rating in a research note on Friday, August 8th. National Bankshares increased their price objective on shares of IGM Financial from C$56.00 to C$58.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. TD Securities increased their price objective on shares of IGM Financial from C$55.00 to C$57.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Royal Bank Of Canada increased their price objective on shares of IGM Financial from C$46.00 to C$49.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Finally, Scotiabank increased their price objective on shares of IGM Financial from C$56.00 to C$57.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of C$52.29.
View Our Latest Stock Analysis on IGM Financial
IGM Financial Trading Up 3.0%
The business's fifty day simple moving average is C$49.76 and its 200 day simple moving average is C$45.69. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. The stock has a market cap of C$12.47 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 4.09 and a beta of 1.07.
IGM Financial Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 31st will be issued a dividend of $0.562 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $2.25 dividend on an annualized basis and a yield of 4.2%. IGM Financial's dividend payout ratio is currently 54.88%.
Insider Buying and Selling
In other IGM Financial news, Director Brent Jason Allen sold 1,451 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of C$48.56, for a total transaction of C$70,460.56. Over the last 90 days, insiders have sold 2,840 shares of company stock worth $137,909. 66.58% of the stock is owned by corporate insiders.
IGM Financial Company Profile
(
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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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