IGM Financial (TSE:IGM) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• IGM Financial's share price has crossed above its 200-day moving average, indicating a positive trend, with the stock trading at C$48.32 as of the latest update.
• Several analysts have revised their price targets for IGM Financial, with National Bankshares setting a target of C$58.00 and a consensus rating of "Hold" for the stock.
• IGM Financial recently announced a quarterly dividend of $0.562 per share, translating to an annualized dividend of $2.25 and a yield of 4.7%, with a payout ratio of 57.64%.

IGM Financial Inc. (TSE:IGM - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$44.13 and traded as high as C$48.68. IGM Financial shares last traded at C$48.32, with a volume of 132,491 shares.

Analyst Ratings Changes

A number of research analysts have recently issued reports on IGM shares. Scotiabank raised their price target on shares of IGM Financial from C$56.00 to C$57.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Royal Bank Of Canada raised their price target on shares of IGM Financial from C$46.00 to C$49.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. National Bankshares raised their price target on shares of IGM Financial from C$56.00 to C$58.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Jefferies Financial Group raised their price target on shares of IGM Financial from C$42.00 to C$46.00 in a research report on Wednesday, July 30th. Finally, BMO Capital Markets raised their price target on shares of IGM Financial from C$47.00 to C$49.00 and gave the stock a "market perform" rating in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of C$52.29.

IGM Financial Stock Performance

The stock has a market cap of C$11.52 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 4.09 and a beta of 1.53. 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 simple moving average is C$44.49 and its 200 day simple moving average is C$44.13.

IGM Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, September 26th will be paid a dividend of $0.562 per share. This represents a $2.25 annualized dividend and a yield of 4.7%. IGM Financial's payout ratio is 57.64%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.