IGM Financial (TSE:IGM) Price Target Raised to C$42.00 at TD Securities

IGM Financial (TSE:IGM) had its price objective increased by TD Securities from C$41.00 to C$42.00 in a research note published on Thursday, BayStreet.CA reports.

IGM has been the topic of several other research reports. National Bankshares raised their price objective on IGM Financial from C$44.00 to C$46.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Royal Bank of Canada increased their target price on IGM Financial from C$43.00 to C$44.00 and gave the stock a sector perform rating in a report on Friday, February 16th. Finally, Scotiabank increased their target price on IGM Financial from C$40.00 to C$44.00 and gave the stock a sector perform rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$42.33.

IGM Financial Stock Performance

Shares of IGM Financial stock opened at C$33.73 on Thursday. The company has a market capitalization of C$8.03 billion, a PE ratio of 8.69, a PEG ratio of 4.24 and a beta of 1.58. IGM Financial has a 12 month low of C$30.34 and a 12 month high of C$42.02. The company has a current ratio of 1.94, a quick ratio of 0.31 and a debt-to-equity ratio of 38.26. The stock’s fifty day simple moving average is C$34.82 and its 200 day simple moving average is C$34.49.

IGM Financial (TSE:IGM) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing the consensus estimate of C$0.89 by C($0.05). The business had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. On average, research analysts predict that IGM Financial will post 3.711039 EPS for the current year.

IGM Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend is Wednesday, March 27th. IGM Financial’s dividend payout ratio is currently 57.99%.

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.