IGM Financial (TSE:IGM) Hits New 1-Year High Following Analyst Upgrade

by · The Markets Daily

Shares of IGM Financial Inc. (TSE:IGM – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$43.00 to C$47.00. The stock traded as high as C$44.90 and last traded at C$44.71, with a volume of 124210 shares. The stock had previously closed at C$44.38.

Other research analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. TD Securities boosted their price objective on IGM Financial from C$46.00 to C$50.00 in a research note on Monday. National Bankshares boosted their price objective on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Scotiabank boosted their price objective on IGM Financial from C$53.00 to C$56.00 in a research note on Friday. Finally, Royal Bank of Canada boosted their price objective on IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IGM Financial has an average rating of “Moderate Buy” and an average price target of C$49.29.

View Our Latest Research Report on IGM

IGM Financial Stock Up 0.7 %

The firm has a fifty day simple moving average of C$41.03 and a 200-day simple moving average of C$38.71. The company has a market capitalization of C$10.58 billion, a P/E ratio of 12.50, a P/E/G ratio of 4.09 and a beta of 1.53. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99.

IGM Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.563 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.25 annualized dividend and a dividend yield of 5.04%. IGM Financial’s dividend payout ratio is currently 63.38%.

IGM Financial Company Profile

(Get Free Report)

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.

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