Brokerages Set IGM Financial Inc. (TSE:IGM) PT at C$49.29

IGM Financial Inc. (TSE:IGM) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$49.29.

A number of research analysts have weighed in on the stock. TD Securities boosted their target price on shares of IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. National Bankshares increased their price objective 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. Jefferies Financial Group boosted their target price on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, November 1st. 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. Finally, Scotiabank boosted their price objective on IGM Financial from C$53.00 to C$56.00 in a research note on Friday, November 8th.

IGM Financial Price Performance

Shares of TSE:IGM opened at C$47.31 on Friday. The company has a market capitalization of C$11.20 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company’s 50-day moving average is C$43.12 and its 200 day moving average is C$39.71. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. IGM Financial has a fifty-two week low of C$32.95 and a fifty-two week high of C$47.83.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued 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 4.76%. IGM Financial’s dividend payout ratio (DPR) is 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.