IGM Financial (TSE:IGM) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of IGM Financial Inc. (TSE:IGM) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$41.57 and traded as high as C$45.51. IGM Financial shares last traded at C$45.43, with a volume of 214,018 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a report on Friday, November 1st. BMO Capital Markets lifted their target price on IGM Financial from C$43.00 to C$47.00 in a research note on Monday, November 11th. CIBC upped their price target on IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. National Bankshares lifted their price objective on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank upped their target price on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Stock Up 2.0 %

The stock’s fifty day moving average price is C$45.90 and its 200-day moving average price is C$41.57. 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 capitalization of C$10.75 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 4.09 and a beta of 1.53.

IGM Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 yield of 4.96%. IGM Financial’s dividend payout ratio (DPR) is presently 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.