IGM Financial (TSE:IGM) Price Target Increased to C$47.00 by Analysts at Royal Bank of Canada

IGM Financial (TSE:IGM) had its price target increased by Royal Bank of Canada from C$46.00 to C$47.00 in a report issued on Thursday, BayStreet.CA reports.

A number of other equities research analysts have also recently weighed in on IGM. National Bankshares upped their price objective on shares of IGM Financial from C$46.00 to C$47.00 and gave the stock an outperform rating in a report on Monday, July 29th. Jefferies Financial Group upped their price target on IGM Financial from C$38.00 to C$39.00 and gave the stock a buy rating in a research note on Monday, July 29th. Scotiabank lifted their price objective on IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. CIBC increased their target price on IGM Financial from C$42.00 to C$45.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Finally, TD Securities raised their price target on IGM Financial from C$42.00 to C$43.00 and gave the company a buy rating in a report on Monday, May 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, IGM Financial currently has an average rating of Moderate Buy and an average target price of C$43.71.

IGM Financial Stock Up 1.6 %

Shares of IGM stock traded up C$0.59 during mid-day trading on Thursday, reaching C$36.73. 230,558 shares of the company’s stock traded hands, compared to its average volume of 246,028. The company’s 50-day moving average price is C$37.78 and its 200-day moving average price is C$36.34. The company has a market cap of C$8.72 billion, a P/E ratio of 11.37, a P/E/G ratio of 4.09 and a beta of 1.55. The company has a quick ratio of 0.31, a current ratio of 20.63 and a debt-to-equity ratio of 35.99. IGM Financial has a 12 month low of C$30.34 and a 12 month high of C$39.50.

IGM Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.563 dividend. This represents a $2.25 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Monday, September 30th. IGM Financial’s dividend payout ratio is currently 69.66%.

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.