Should I buy or sell IGM Financial stock right now?

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for IGM Financial in the last twelve months. There are currently 3 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" IGM shares. View IGM analyst ratings or view top-rated stocks .

What is IGM Financial's stock price target for 2024?

6 equities research analysts have issued twelve-month price objectives for IGM Financial's stock. Their IGM share price targets range from C$36.00 to C$46.00. On average, they anticipate the company's share price to reach C$40.75 in the next year. This suggests a possible upside of 18.1% from the stock's current price. View analysts price targets for IGM or view top-rated stocks among Wall Street analysts .

How have IGM shares performed in 2023?

IGM Financial's stock was trading at C$37.80 at the start of the year. Since then, IGM shares have decreased by 8.7% and is now trading at C$34.50. View the best growth stocks for 2023 here .

When is IGM Financial's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 8th 2024. View our IGM earnings forecast .

How were IGM Financial's earnings last quarter?

IGM Financial Inc. (TSE:IGM) released its earnings results on Wednesday, November, 1st. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The financial services provider earned $770.86 million during the quarter, compared to analyst estimates of $770 million. IGM Financial had a trailing twelve-month return on equity of 15.38% and a net margin of 24.05%.

How often does IGM Financial pay dividends? What is the dividend yield for IGM Financial?

IGM Financial announced a quarterly dividend on Wednesday, November 1st. Shareholders of record on Friday, December 29th will be given a dividend of 0.563 per share on Wednesday, January 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date of this dividend is Thursday, December 28th. Read our dividend analysis for IGM .

Is IGM Financial a good dividend stock?

IGM Financial (TSE:IGM) pays an annual dividend of C$2.25 per share and currently has a dividend yield of 6.57%. IGM has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 55.97%. This payout ratio is at a healthy, sustainable level, below 75%. Read our dividend analysis for IGM .

What other stocks do shareholders of IGM Financial own?

Based on aggregate information from My MarketBeat watchlists, some companies that other IGM Financial investors own include Consumer Staples Select Sector SPDR Fund (XLP) , RiverFront Dynamic US Flex-Cap ETF (RFFC) , RiverFront Dynamic US Dividend Advantage ETF (RFDA) , First Trust RiverFront Dynamic Developed International ETF (RFDI) , ALPS ETF Trust - Riverfront Dynamic Unconstrained Income ETF (RFUN) , Financial Select Sector SPDR Fund (XLF) , iShares Core S&P Small-Cap ETF (IJR) , PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (HYS) .

How do I buy shares of IGM Financial?

Shares of IGM stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor , Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers. Compare Top Brokerages Here .

IGM Financial Stock Price, News & Analysis (TSE:IGM)

C$34.51

+0.13 (+0.38%)

(As of 04:21 PM ET)

Compare

Today's Range: C$34.25
▼
C$34.63
50-Day Range: C$30.69
▼
C$34.45
52-Week Range: C$30.34
▼
C$43.97

Volume: 119,607 shs
Average Volume: 224,439 shs
Market Capitalization: C$8.22 billion

P/E Ratio: 8.58
Dividend Yield: 6.52%
Price Target: C$40.75

Stock Analysis Analyst Forecasts Chart Competitors Dividend Earnings Headlines Insider Trades

IGM Financial MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.50 Rating Score
Upside/Downside: 18.1% Upside
C$40.75 Price Target
Short Interest: N/A
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.29
Based on 4 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: N/A

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.07 out of 5 stars

3.3

Analyst's Opinion

Consensus Rating
IGM Financial has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 3 buy ratings, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of C$40.75, IGM Financial has a forecasted upside of 18.1% from its current price of C$34.50.
Amount of Analyst Coverage
IGM Financial has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

N/A

Short Interest

Short Interest
There is no current short interest data available for IGM.

2.5

Dividend Strength

Dividend Leadership
IGM Financial is a leading dividend payer. It pays a dividend yield of 6.57%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
IGM Financial does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of IGM Financial is 55.97%. This payout ratio is at a healthy, sustainable level, below 75%.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for IGM.

1.8

News and Social Media Coverage

News Sentiment
IGM Financial has a news sentiment score of 0.29. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.52 average news sentiment score of Financial Services companies.
News Coverage This Week
MarketBeat has tracked 4 news articles for IGM Financial this week, compared to 2 articles on an average week.
Search Interest
Only 2 people have searched for IGM on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.
MarketBeat Follows
Only 1 people have added IGM Financial to their MarketBeat watchlist in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, IGM Financial insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.12% of the stock of IGM Financial is held by insiders.
Percentage Held by Institutions
Only 8.90% of the stock of IGM Financial is held by institutions.

1.3

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of IGM Financial is 8.58, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 120.78.
Price to Earnings Ratio vs. Sector
The P/E ratio of IGM Financial is 8.58, which means that it is trading at a less expensive P/E ratio than the Financial Services sector average P/E ratio of about 310.44.
Price to Earnings Growth Ratio
IGM Financial has a PEG Ratio of 14.05. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
IGM Financial has a P/B Ratio of 1.30. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About IGM Financial Stock (TSE:IGM)

IGM Financial Inc. operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; and IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program. It also provides mutual funds; managed solutions; IG Advisory Account, a fee-based account that enhances client experience by offering the ability to simplify and consolidate selected investments into a single account; iProfile Private portfolios, a portfolio management program for households with investments; iProfile Portfolios, a suite of four managed solutions; segregated funds; separately managed accounts; insurance products; and securities services. In addition, the company offers management and related services; global private equity, private credit, and infrastructure investment solutions; and exchange traded funds. The company was incorporated in 1978 and is headquartered in Winnipeg, Canada. IGM Financial Inc. operates as a subsidiary of Power Financial Corporation.

IGM Stock Price History

30 days | 90 days | 365 days | Advanced Chart

IGM Stock News Headlines

December 7, 2023 | americanbankingnews.com

IGM Financial (TSE:IGM) Price Target Raised to C$38.00 at TD Securities

December 6, 2023 | financialpost.com

Wealthsimple aims to quadruple assets to $100 billion in 5 years

December 8, 2023 | DTI Trader (Ad)

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December 5, 2023 | finance.yahoo.com

IGM Financial Hosts Investor Day December 5, 2023 and Announces Medium Term Objectives

November 29, 2023 | benzinga.com

CIBC Mellon Enhances Mackenzie Investments' Asset Management Capabilities

November 28, 2023 | finance.yahoo.com

2023 IG Wealth Management Financial Confidence Index: Post-Pandemic Downturn Continues

November 17, 2023 | theglobeandmail.com

Employee engagement is a key strategic priority at IGM

November 17, 2023 | finance.yahoo.com

IGM Financial Named a Top 100 Canadian Employer for Second Consecutive Year

December 8, 2023 | DTI Trader (Ad)

All the trading advice you’ve ever received boils down to this

November 14, 2023 | finance.yahoo.com

The Canadian Foundation for Economic Education and IG Wealth Management Launch New National Financial Literacy Resource for Seniors

November 10, 2023 | finance.yahoo.com

IG Wealth Management Study: Few Canadians Appreciate the Important Role Life Insurance Can Play in Optimizing Their Estate

October 30, 2023 | theglobeandmail.com

The most oversold and overbought stocks on the TSX on Oct. 30

October 26, 2023 | finance.yahoo.com

Mackenzie Investments Announces October 2023 Distributions for its Exchange Traded Funds

October 25, 2023 | finance.yahoo.com

Counsel Announces Changes Related to Prospectus Renewal

October 20, 2023 | bloomberg.com

Bloomberg Selected by Mackenzie Investments to Manage ESG Data

October 4, 2023 | finance.yahoo.com

IGM FINANCIAL INC. ANNOUNCES SEPTEMBER 2023 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

September 29, 2023 | markets.businessinsider.com

Scotiabank Maintains Their Buy Rating on ONEX Corporation (ONEX)

September 29, 2023 | finance.yahoo.com

IGM Financial Inc. to announce third quarter 2023 results on November 1, 2023

September 28, 2023 | markets.businessinsider.com

Scotiabank Remains a Hold on AGF Management B NV (AGF.B)

September 27, 2023 | finance.yahoo.com

IG Wealth Management Life Insurance Study: Most Affluent Canadians Unclear About the Important Role Life Insurance Can Play in Estate Planning

September 25, 2023 | finance.yahoo.com

Mackenzie Investments Announces Changes to Select Mutual Funds and ETFs

September 19, 2023 | markets.businessinsider.com

RBC Capital Keeps Their Sell Rating on Chesswood (CHW)

September 12, 2023 | finance.yahoo.com

Mackenzie Investments Announces September 2023 Quarterly Distributions for its Exchange Traded Funds

September 6, 2023 | theglobeandmail.com

Closing Bell: Igm Financial Inc down on Wednesday (IGM)

September 5, 2023 | finance.yahoo.com

IGM Financial Inc.'s President and CEO, James O'Sullivan, to speak at Scotiabank 24th Annual Financials Summit on September 7

August 28, 2023 | finance.yahoo.com

Mackenzie Investments Announces August 2023 Distributions for its Exchange Traded Funds

August 16, 2023 | markets.businessinsider.com

National Bank Thinks ECN Capital’s Stock is Going to Recover

See More Headlines

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Company Calendar

Ex-Dividend for 10/31 Dividend: 9/28/2023
Dividend Payable: 10/31/2023
Last Earnings: 11/01/2023
Today: 12/08/2023
Ex-Dividend for 1/31 Dividend: 12/28/2023
Dividend Payable: 1/31/2024
Next Earnings (Estimated): 2/08/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: TSE
Industry: Asset Management
Sub-Industry: N/A
Sector: Financial Services
Current Symbol: TSE:IGM
CUSIP: N/A
CIK: N/A
Web: www.igmfinancial.com
Phone: +1-204-9430361
Fax: N/A
Employees: 3,300
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: C$40.75
High Stock Price Target: C$46.00
Low Stock Price Target: C$36.00
Potential Upside/Downside: +17.9%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.50
Research Coverage: 6 Analysts

Profitability

EPS (Most Recent Fiscal Year): C$4.02
Trailing P/E Ratio: 8.60
Forward P/E Ratio: 9.69
P/E Growth: 14.05
Net Income: C$958.30 million
Net Margins: 24.05%
Pretax Margin: N/A
Return on Equity: 15.38%
Return on Assets: 4.77%

Debt

Debt-to-Equity Ratio: 48.87
Current Ratio: 1.74
Quick Ratio: 0.31

Sales & Book Value

Annual Sales: C$3.97 billion
Price / Sales: 2.07
Cash Flow: C$3.95 per share
Price / Cash Flow: 8.75
Book Value: C$26.58 per share
Price / Book: 1.30

Miscellaneous

Outstanding Shares: 238,130,000
Free Float: N/A
Market Cap: C$8.23 billion
Optionable: Not Optionable
Beta: 1.56

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Key Executives

Mr. James O'Sullivan (Age 59)
President, CEO & Director
Comp: $3.92M
Mr. Keith David Bernard Potter
Executive VP & CFO
Mr. Michael Dibden
COO & Executive VP
Mr. Damon Murchison
President & CEO of IG Wealth Management
Mr. Luke Gould
President & CEO of Mackenzie Investments
Mr. Blaine Shewchuk
President & CEO of Investment Planning Counsel Inc.
Ms. Rhonda Suzanne Goldberg
Executive VP & General Counsel
Mr. Douglas Gordon McIntosh Milne
Executive VP & Chief Marketing Officer
Ms. Cynthia Currie
Executive VP & Chief Human Resources Officer
Ms. Kristin Elizabeth Ashcroft
Executive Vice-President of Products & Solutions for Mackenzie Investments

Key Competitors

View All Competitors

IGM Stock Analysis - Frequently Asked Questions

Should I buy or sell IGM Financial stock right now?: 6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for IGM Financial in the last twelve months. There are currently 3 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" IGM shares.
View IGM analyst ratings or view top-rated stocks.
What is IGM Financial's stock price target for 2024?: 6 equities research analysts have issued twelve-month price objectives for IGM Financial's stock. Their IGM share price targets range from C$36.00 to C$46.00. On average, they anticipate the company's share price to reach C$40.75 in the next year. This suggests a possible upside of 18.1% from the stock's current price.
View analysts price targets for IGM or view top-rated stocks among Wall Street analysts.
How have IGM shares performed in 2023?: IGM Financial's stock was trading at C$37.80 at the start of the year. Since then, IGM shares have decreased by 8.7% and is now trading at C$34.50.
View the best growth stocks for 2023 here.
When is IGM Financial's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, February 8th 2024.
View our IGM earnings forecast.
How were IGM Financial's earnings last quarter?: IGM Financial Inc. (TSE:IGM) released its earnings results on Wednesday, November, 1st. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The financial services provider earned $770.86 million during the quarter, compared to analyst estimates of $770 million. IGM Financial had a trailing twelve-month return on equity of 15.38% and a net margin of 24.05%.

How often does IGM Financial pay dividends? What is the dividend yield for IGM Financial?: IGM Financial announced a quarterly dividend on Wednesday, November 1st. Shareholders of record on Friday, December 29th will be given a dividend of 0.563 per share on Wednesday, January 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date of this dividend is Thursday, December 28th.
Read our dividend analysis for IGM.
Is IGM Financial a good dividend stock?: IGM Financial (TSE:IGM) pays an annual dividend of C$2.25 per share and currently has a dividend yield of 6.57%. IGM has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 55.97%. This payout ratio is at a healthy, sustainable level, below 75%.
Read our dividend analysis for IGM.
What other stocks do shareholders of IGM Financial own?: Based on aggregate information from My MarketBeat watchlists, some companies that other IGM Financial investors own include Consumer Staples Select Sector SPDR Fund (XLP), RiverFront Dynamic US Flex-Cap ETF (RFFC), RiverFront Dynamic US Dividend Advantage ETF (RFDA), First Trust RiverFront Dynamic Developed International ETF (RFDI), ALPS ETF Trust - Riverfront Dynamic Unconstrained Income ETF (RFUN), Financial Select Sector SPDR Fund (XLF), iShares Core S&P Small-Cap ETF (IJR), PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund (HYS).
How do I buy shares of IGM Financial?: Shares of IGM stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
Compare Top Brokerages Here.

This page (TSE:IGM) was last updated on 12/8/2023 by MarketBeat.com Staff

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IGM Financial Stock Price, News & Analysis (TSE:IGM)

IGM Financial MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Short Interest

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About IGM Financial Stock (TSE:IGM)

IGM Stock Price History

IGM Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

IGM Stock Analysis - Frequently Asked Questions

Overall MarketRank^™