CIBC Trims IGM Financial (IGM) Target Price to C$43.00

IGM Financial (TSE:IGM) had its price objective decreased by CIBC from C$45.00 to C$43.00 in a research report sent to investors on Monday morning.

Several other brokerages have also weighed in on IGM. Scotiabank raised their target price on IGM Financial from C$47.00 to C$49.00 and gave the stock a sector perform rating in a research report on Monday, November 6th. BMO Capital Markets reissued an outperform rating and set a C$48.00 target price on shares of IGM Financial in a research report on Monday, November 6th. TD Securities raised IGM Financial from a hold rating to a buy rating and raised their target price for the stock from C$48.00 to C$52.00 in a research report on Monday, November 6th. Barclays cut their target price on IGM Financial from C$44.00 to C$43.00 in a research report on Monday, November 6th. Finally, Desjardins raised their target price on IGM Financial from C$48.00 to C$50.00 in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of C$47.13.

Shares of IGM Financial (TSE:IGM) opened at C$39.11 on Monday. IGM Financial has a 12-month low of C$38.56 and a 12-month high of C$45.82. The firm has a market capitalization of $9,410.00, a PE ratio of 15.64 and a beta of 0.93.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be paid a dividend of $0.563 per share. The ex-dividend date is Wednesday, March 28th. This represents a $2.25 dividend on an annualized basis and a yield of 5.76%. IGM Financial’s dividend payout ratio is presently 90.00%.

In other news, Director Jean-Claude Bachand purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average price of C$44.35 per share, for a total transaction of C$44,350.00.

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About IGM Financial

IGM Financial Inc is a Canada-based financial services company. The Company’s principal businesses are Investors Group Inc and Mackenzie Financial Corporation, which operate within the advice segment of the financial services market. It operates in three segments: Investors Group, Mackenzie Investments, and Corporate and Other.

Analyst Recommendations for IGM Financial (TSE:IGM)

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