IGM Financial (TSE:IGM) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of IGM Financial Inc. (TSE:IGM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$42.22 and traded as high as C$46.05. IGM Financial shares last traded at C$45.90, with a volume of 502,348 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets increased their target price on IGM Financial from C$43.00 to C$47.00 in a research note on Monday, November 11th. Jefferies Financial Group lifted their price target 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. Scotiabank lifted their price objective on shares of IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. National Bankshares lifted their target price on 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. Finally, CIBC boosted their target price on shares of IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, IGM Financial has a consensus rating of “Moderate Buy” and a consensus target price of C$49.29.

IGM Financial Stock Performance

The firm has a market cap of C$10.86 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth 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. The stock’s 50 day moving average is C$46.22 and its 200 day moving average is C$42.22.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, November 7th. The financial services provider reported C$1.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.03 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. During the same period last year, the company posted $0.89 EPS. Analysts anticipate that IGM Financial Inc. will post 4.006816 earnings per share for the current year.

IGM Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s dividend 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.