IGM Financial (TSE:IGM) Stock Price Expected to Rise, National Bankshares Analyst Says

Key Points

• National Bankshares raised its price target for IGM Financial from C$56.00 to C$58.00, indicating a potential upside of 22.57% from the current stock price.
• Several analysts have recently updated their price targets for IGM Financial, with TD Securities increasing it to C$57.00 while BMO Capital Markets lowered theirs to C$46.00.
• IGM Financial, the largest non-bank-affiliated asset manager in Canada, trades at around C$47.32 and has a market capitalization of C$11.28 billion.

IGM Financial (TSE:IGM - Get Free Report) had its price objective lifted by equities researchers at National Bankshares from C$56.00 to C$58.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. National Bankshares' target price suggests a potential upside of 21.04% from the company's previous close.

IGM has been the subject of a number of other research reports. BMO Capital Markets decreased their target price on shares of IGM Financial from C$47.00 to C$46.00 in a research note on Monday, May 12th. TD Securities lifted their target price 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 lifted their target price 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. Jefferies Financial Group lifted their target price on shares of IGM Financial from C$42.00 to C$46.00 in a research note on Wednesday, July 30th. Finally, Scotiabank lifted their target price 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$52.29.

IGM Financial Trading Down 0.6%

IGM Financial stock traded down C$0.29 during midday trading on Friday, reaching C$47.92. The stock had a trading volume of 15,064 shares, compared to its average volume of 302,356. The firm's fifty day simple moving average is C$44.24 and its two-hundred day simple moving average is C$44.07. IGM Financial has a twelve month low of C$37.51 and a twelve month high of C$48.33. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. The firm has a market cap of C$11.43 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 4.09 and a beta of 1.53.

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.