IGM Financial (TSE:IGM) Price Target Raised to C$68.00

IGM Financial (TSE:IGM) had its price target increased by equities research analysts at BMO Capital Markets from C$57.00 to C$68.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 2.06% from the company’s current price.

Several other research analysts have also recently commented on IGM. CIBC increased their target price on shares of IGM Financial from C$61.00 to C$68.00 in a report on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective on shares of IGM Financial from C$55.00 to C$61.00 in a research note on Monday, November 10th. TD Securities upped their target price on IGM Financial from C$57.00 to C$64.00 in a research note on Tuesday, November 4th. National Bankshares increased their target price on IGM Financial from C$60.00 to C$68.00 in a research report on Monday, November 10th. Finally, Jefferies Financial Group lifted their target price on shares of IGM Financial from C$50.00 to C$54.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$64.86.

IGM Financial Trading Up 1.4%

Shares of IGM traded up C$0.95 on Monday, reaching C$66.63. 177,813 shares of the company’s stock were exchanged, compared to its average volume of 379,326. The stock has a market capitalization of C$15.70 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 4.09 and a beta of 1.13. IGM Financial has a 12 month low of C$38.89 and a 12 month high of C$68.55. The business has a 50 day moving average price of C$61.22 and a two-hundred day moving average price of C$53.93. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24.

IGM Financial (TSE:IGM) last announced its quarterly earnings results on Thursday, November 6th. The financial services provider reported C$1.27 earnings per share for the quarter. The business had revenue of C$971.88 million for the quarter. IGM Financial had a net margin of 27.93% and a return on equity of 12.76%. Research analysts anticipate that IGM Financial will post 4.006816 earnings per share for the current year.

Insider Transactions at IGM Financial

In other news, insider Rhonda Goldberg sold 7,353 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of C$57.00, for a total transaction of C$419,121.00. Also, Director Esther Findlay sold 800 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of C$57.60, for a total value of C$46,080.00. Following the completion of the transaction, the director owned 10,276 shares of the company’s stock, valued at C$591,897.60. The trade was a 7.22% decrease in their ownership of the stock. In the last quarter, insiders have sold 34,904 shares of company stock valued at $1,982,131. Corporate insiders own 66.58% of the company’s stock.

IGM Financial Company Profile

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services. IGM Financial had CAD 225.6 billion in assets under management, or AUM, and CAD 30.1 billion in assets under advisement at the end of May 2022.