IGM Financial Inc. (TSE:IGM) Given Consensus Rating of “Moderate Buy” by Brokerages

IGM Financial Inc. (TSE:IGM) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$49.29.

IGM has been the topic of several recent research reports. National Bankshares lifted their price target on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, November 1st. TD Securities boosted their target price on IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. CIBC raised their price target on shares of IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. Finally, BMO Capital Markets boosted their price objective on shares of IGM Financial from C$43.00 to C$47.00 in a research report on Monday, November 11th.

IGM Financial Trading Down 0.4 %

Shares of TSE:IGM opened at C$44.81 on Friday. The firm has a market cap of C$10.60 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 4.09 and a beta of 1.53. IGM Financial has a 12 month low of C$32.95 and a 12 month high of C$47.96. The company’s fifty day simple moving average is C$46.16 and its 200 day simple moving average is C$41.90. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.563 dividend. This represents a $2.25 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s payout ratio is presently 63.38%.

IGM Financial Company Profile

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.