IGM Financial (TSE:IGM) Given New C$47.00 Price Target at BMO Capital Markets

IGM Financial (TSE:IGM) had its price objective raised by BMO Capital Markets from C$43.00 to C$47.00 in a research note published on Monday morning,BayStreet.CA reports.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group upped their target price on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. National Bankshares upped their target price on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Securities upped their target price on IGM Financial from C$46.00 to C$50.00 in a research report on Monday. Royal Bank of Canada upped their target price on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Finally, CIBC upped their target price on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, IGM Financial presently has a consensus rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Stock Performance

Shares of IGM stock opened at C$44.65 on Monday. The firm has a market capitalization of C$10.57 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. IGM Financial has a 12-month low of C$32.36 and a 12-month high of C$45.36. The business has a 50 day simple moving average of C$41.25 and a 200 day simple moving average of C$38.87.

IGM Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Tuesday, December 31st. IGM Financial’s payout ratio is 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.