Brokerages Set IGM Financial Inc. (TSE:IGM) Price Target at C$49.29

Shares of IGM Financial Inc. (TSE:IGM) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$49.29.

A number of equities analysts have recently commented on IGM shares. Jefferies Financial Group raised their price objective on shares of IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, November 1st. CIBC lifted their price objective on IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. National Bankshares increased their target price on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Securities boosted their price target on IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. Finally, Scotiabank upped their price target on IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th.

IGM Financial Stock Up 0.1 %

IGM stock opened at C$45.09 on Friday. IGM Financial has a twelve month low of C$32.95 and a twelve month high of C$47.96. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The company has a market cap of C$10.67 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The business’s 50-day simple moving average is C$46.18 and its 200 day simple moving average is C$42.05.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, November 7th. The financial services provider reported C$1.01 earnings per share for the quarter, missing the consensus estimate of C$1.03 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. During the same period last year, the business posted $0.89 EPS. On average, research analysts anticipate that IGM Financial will post 4.006816 earnings per share for the current year.

IGM Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s dividend payout ratio is currently 63.38%.

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.