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

by · The Cerbat Gem

IGM Financial (TSE:IGM – Get Free Report) had its price target lifted by National Bankshares from C$68.00 to C$82.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bankshares’ target price would suggest a potential upside of 21.84% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada lifted their price objective on shares of IGM Financial from C$51.00 to C$65.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Scotiabank lifted their price objective on shares of IGM Financial from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. CIBC upped their target price on shares of IGM Financial from C$61.00 to C$68.00 in a research report on Wednesday, January 21st. TD Securities lifted their price target on IGM Financial from C$57.00 to C$64.00 in a report on Tuesday, November 4th. Finally, BMO Capital Markets increased their price objective on IGM Financial from C$57.00 to C$68.00 in a report on Monday, January 26th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, IGM Financial has an average rating of “Hold” and an average price target of C$66.86.

View Our Latest Research Report on IGM Financial

IGM Financial Stock Performance

TSE:IGM traded up C$1.38 during mid-day trading on Wednesday, reaching C$67.30. 214,579 shares of the stock were exchanged, compared to its average volume of 413,451. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. IGM Financial has a 1 year low of C$38.89 and a 1 year high of C$68.55. The company has a 50 day simple moving average of C$62.70 and a 200-day simple moving average of C$55.09. The stock has a market capitalization of C$15.86 billion, a P/E ratio of 15.47, a P/E/G ratio of 4.09 and a beta of 1.10.

IGM Financial (TSE:IGM – Get Free Report) last announced its earnings results on Thursday, November 6th. The financial services provider reported C$1.27 earnings per share for the quarter. The company had revenue of C$971.88 million for the quarter. IGM Financial had a return on equity of 12.76% and a net margin of 27.93%. Analysts anticipate that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

Insider Transactions at IGM Financial

In other news, Director Esther Findlay sold 800 shares of IGM Financial stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of C$57.60, for a total value of C$46,080.00. Following the transaction, the director owned 10,276 shares of the company’s stock, valued at C$591,897.60. The trade was a 7.22% decrease in their position. Also, insider Rhonda Goldberg sold 7,353 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of C$57.00, for a total transaction of C$419,121.00. Insiders sold a total of 34,904 shares of company stock valued at $1,982,131 over the last three months. 66.58% of the stock is owned by corporate insiders.

About IGM Financial

(Get Free Report)

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. IGM Financial had CAD 225.6 billion in assets under management, or AUM, and CAD 30.1 billion in assets under advisement at the end of May 2022.

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