IGM Financial (TSE:IGM) Given New C$50.00 Price Target at CIBC

IGM Financial (TSE:IGM) had its price objective raised by CIBC from C$47.00 to C$50.00 in a research note released on Friday morning,BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets decreased their target price on shares of IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Scotiabank raised their target price on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday. National Bankshares lifted their price target on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lifted their price target on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$49.29.

IGM Financial Stock Performance

Shares of TSE IGM opened at C$44.38 on Friday. The company has a market cap of C$10.50 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. IGM Financial has a 12 month low of C$31.92 and a 12 month high of C$44.85. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The company has a 50-day simple moving average of C$41.03 and a 200-day simple moving average of C$38.71.

IGM Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.563 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.07%. IGM Financial’s payout ratio is currently 63.38%.

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.