Scotiabank Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

Key Points

• Scotiabank raised IGM Financial’s price target from C$84 to C$87 while maintaining a “sector perform” rating. Analysts overall have a “Hold” consensus, with an average target of C$80.88.
• IGM Financial shares rose 6.0% to C$86.86, near the stock’s 52-week high of C$87.99, and are up significantly from the 52-week low of C$44.69.
• The company reported quarterly EPS of C$1.41, while insiders sold approximately C$11.3 million worth of shares over the past 90 days; insiders still own 66.58% of the company.

IGM Financial (TSE:IGM - Get Free Report) had its price objective hoisted by analysts at Scotiabank from C$84.00 to C$87.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the financial services provider's stock. Scotiabank's price objective suggests a potential upside of 0.16% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Canadian Imperial Bank of Commerce boosted their price target on IGM Financial from C$79.00 to C$85.00 in a report on Friday, July 10th. TD lifted their price objective on IGM Financial from C$80.00 to C$86.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Royal Bank Of Canada boosted their target price on IGM Financial from C$77.00 to C$80.00 and gave the company a "sector perform" rating in a research note on Monday, July 13th. BMO Capital Markets upped their target price on IGM Financial from C$72.00 to C$80.00 in a report on Wednesday, July 15th. Finally, National Bank Financial lifted their price target on shares of IGM Financial from C$85.00 to C$91.00 and gave the company an "outperform" rating in a report on Monday. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, IGM Financial currently has an average rating of "Hold" and an average price target of C$80.88.

IGM Financial Trading Up 6.0%

Shares of IGM Financial stock traded up C$4.93 on Thursday, hitting C$86.86. The stock had a trading volume of 438,397 shares, compared to its average volume of 463,921. The company has a quick ratio of 0.31, a current ratio of 1.36 and a debt-to-equity ratio of 81.91. IGM Financial has a one year low of C$44.69 and a one year high of C$87.99. The stock's 50-day simple moving average is C$80.83 and its two-hundred day simple moving average is C$72.93. The stock has a market cap of C$20.19 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 4.09 and a beta of 1.03.

IGM Financial (TSE:IGM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported C$1.41 EPS for the quarter. The company had revenue of C$1.07 million during the quarter. IGM Financial had a net margin of 29.97% and a return on equity of 13.19%. As a group, sell-side analysts predict that IGM Financial will post 4.006816 EPS for the current year.

Insider Buying and Selling at IGM Financial

In related news, Director James Patrick O'sullivan sold 700 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$77.90, for a total value of C$54,530.00. Following the sale, the director directly owned 93,248 shares of the company's stock, valued at C$7,264,019.20. This represents a 0.75% decrease in their ownership of the stock. Insiders sold 144,039 shares of company stock worth $11,327,486 in the last 90 days. Insiders own 66.58% of the company's stock.

About IGM Financial

Mackenzie Investments ("Mackenzie") is a Canadian investment management firm with approximately $244 billion (CAD) in assets under management as of December 31, 2025. Mackenzie seeks to create a more invested world by delivering strong investment performance and offering innovative portfolio solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, it is a global asset manager with offices across Canada as well as in Beijing, Boston, Dublin, Hong Kong and London.

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