IGM Financial (TSE:IGM) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

IGM Financial (TSE:IGM) had its price target hoisted by Jefferies Financial Group from C$39.00 to C$45.00 in a research report released on Friday, BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on IGM. Scotiabank boosted their price objective on shares of IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. Royal Bank of Canada increased their price target on IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. BMO Capital Markets cut their price objective on IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Finally, National Bankshares upped their target price on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$45.00.

IGM Financial Price Performance

IGM Financial stock opened at C$42.33 on Friday. The stock has a 50-day moving average price of C$40.48 and a two-hundred day moving average price of C$38.30. IGM Financial has a 12 month low of C$31.92 and a 12 month high of C$43.07. The company has a market capitalization of C$10.02 billion, a PE ratio of 11.91, a P/E/G 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.

IGM Financial (TSE:IGM) last posted its earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing the consensus estimate of C$0.95 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The business had revenue of C$816.31 million for the quarter, compared to analyst estimates of C$826.00 million. Analysts expect that IGM Financial will post 4.006816 EPS for the current year.

IGM Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st were paid a $0.563 dividend. This represents a $2.25 annualized dividend and a yield of 5.32%. The ex-dividend date was Friday, September 27th. 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.