Analysts Set IGM Financial Inc. (TSE:IGM) Price Target at C$42.17

Shares of IGM Financial Inc. (TSE:IGM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$42.17.

A number of research analysts have recently commented on IGM shares. Royal Bank of Canada upped their price target on IGM Financial from C$43.00 to C$44.00 and gave the company a "sector perform" rating in a research report on Friday, February 16th. TD Securities upped their price target on IGM Financial from C$39.00 to C$41.00 and gave the company a "buy" rating in a research report on Tuesday, February 20th. Scotiabank upped their price target on IGM Financial from C$40.00 to C$44.00 and gave the company a "sector perform" rating in a research report on Wednesday, January 31st. Finally, National Bankshares upped their price target on IGM Financial from C$44.00 to C$46.00 and gave the company an "outperform" rating in a research report on Monday, February 5th.

IGM Financial Stock Performance

IGM stock traded up C$0.06 during midday trading on Thursday, hitting C$33.43. The company's stock had a trading volume of 234,990 shares, compared to its average volume of 251,502. The stock's 50-day moving average price is C$34.98 and its 200 day moving average price is C$34.47. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26. IGM Financial has a 1 year low of C$30.34 and a 1 year high of C$42.02. The stock has a market cap of C$7.96 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 4.24 and a beta of 1.58.

IGM Financial (TSE:IGM - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share for the quarter, missing the consensus estimate of C$0.89 by C($0.05). IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. The business had revenue of C$768.80 million during the quarter, compared to analysts' expectations of C$773.00 million. On average, equities analysts forecast that IGM Financial will post 3.711039 EPS for the current year.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.563 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.74%. IGM Financial's payout ratio is 57.99%.

IGM Financial Company Profile

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.