IGM Financial Inc. Announces Quarterly Dividend of $0.56 (TSE:IGM)

IGM Financial Inc. (TSE:IGM - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.563 per share by the financial services provider on Wednesday, July 31st. This represents a $2.25 annualized dividend and a yield of 5.93%. The ex-dividend date is Friday, June 28th.

IGM Financial Trading Up 6.2 %

Shares of IGM traded up C$2.23 during mid-day trading on Friday, reaching C$37.96. The company had a trading volume of 475,412 shares, compared to its average volume of 249,495. IGM Financial has a fifty-two week low of C$30.34 and a fifty-two week high of C$42.02. The firm has a fifty day simple moving average of C$34.74 and a 200-day simple moving average of C$34.55. The stock has a market cap of C$9.04 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26.

IGM Financial (TSE:IGM - Get Free Report) last issued its earnings results 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 firm had revenue of C$768.80 million during the quarter, compared to analysts' expectations of C$773.00 million. On average, sell-side analysts anticipate that IGM Financial will post 3.711039 EPS for the current fiscal year.

Analyst Ratings Changes

IGM has been the subject of several research reports. Scotiabank boosted their price objective on shares of IGM Financial from C$44.00 to C$45.00 and gave the stock a "sector perform" rating in a research note on Tuesday. National Bankshares upped their price target on shares of IGM Financial from C$44.00 to C$46.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. TD Securities raised their price objective on IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. CIBC boosted their price target on IGM Financial from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Royal Bank of Canada upped their price target on IGM Financial from C$44.00 to C$45.00 in a report on Friday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, IGM Financial presently has a consensus rating of "Moderate Buy" and an average price target of C$43.17.

About IGM Financial

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.