IGM Financial (TSE:IGM) Stock Price Crosses 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) crossed 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IGM. National Bankshares raised their price objective on IGM Financial from C$56.00 to C$58.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Jefferies Financial Group lifted their price objective on IGM Financial from C$42.00 to C$46.00 in a research report on Wednesday, July 30th. BMO Capital Markets boosted their target price on IGM Financial from C$47.00 to C$49.00 and gave the company a "market perform" rating in a research report on Friday, August 8th. Royal Bank Of Canada boosted their target price on IGM Financial from C$46.00 to C$49.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Finally, Scotiabank lifted their price target on 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of C$52.29.

IGM Financial Price Performance

The business's fifty day simple moving average is C$44.88 and its 200-day simple moving average is C$44.20. 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 firm has a market cap of C$11.56 billion, a P/E ratio of 12.43, a PEG ratio of 4.09 and a beta of 1.53.

IGM Financial Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be issued a $0.562 dividend. This represents a $2.25 annualized dividend and a dividend yield of 4.6%. IGM Financial's payout ratio is currently 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.