IGM Financial (TSE:IGM) Share Price Passes Above 200 Day Moving Average – Should You Sell?

IGM Financial Inc. (TSE:IGM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$42.22 and traded as high as C$46.05. IGM Financial shares last traded at C$45.90, with a volume of 502,348 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IGM shares. TD Securities boosted their price target on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. CIBC raised their price target on IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. BMO Capital Markets lifted their price objective on shares of IGM Financial from C$43.00 to C$47.00 in a research note on Monday, November 11th. Scotiabank boosted their target price on IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. Finally, Jefferies Financial Group boosted their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Price Performance

The company has a market cap of C$10.86 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The company has a fifty day moving average price of C$46.22 and a two-hundred day moving average price of C$42.22.

IGM Financial (TSE:IGM) last released 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 net margin of 29.47% and a return on equity of 12.80%. During the same period in the prior year, the business earned $0.89 earnings per share. As a group, equities research analysts anticipate that IGM Financial Inc. will post 4.006816 EPS for the current fiscal year.

IGM Financial Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 4.91%. 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.