IGM Financial (TSE:IGM) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• IGM Financial's stock price recently surpassed its 200-day moving average of C$43.93, trading at C$46.40 with a volume of 363,459 shares on Thursday.
• The company's latest dividend, set to be paid on July 31st, is $0.5625 per share, resulting in an annualized yield of 4.83%.
• Analyst ratings for IGM Financial indicate a consensus rating of "Hold", with an average price target of C$48.71 from research analysts.

IGM Financial Inc. (TSE:IGM - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$43.93 and traded as high as C$46.48. IGM Financial shares last traded at C$46.40, with a volume of 363,459 shares traded.

Wall Street Analyst Weigh In

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

IGM Financial Stock Performance

The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. The company has a 50 day moving average of C$43.74 and a 200 day moving average of C$43.92. The firm has a market cap of C$11.11 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 4.09 and a beta of 1.53.

IGM Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Monday, June 30th. IGM Financial's payout ratio is currently 57.64%.

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.