IGM Financial (TSE:IGM) Price Target Increased to C$45.00 by Analysts at Royal Bank of Canada

IGM Financial (TSE:IGM) had its price target upped by Royal Bank of Canada from C$44.00 to C$45.00 in a research note issued to investors on Friday, BayStreet.CA reports.

IGM has been the topic of several other reports. TD Securities upped their price objective on shares of IGM Financial from C$41.00 to C$42.00 in a report on Thursday, April 25th. Scotiabank upped their price target on IGM Financial from C$44.00 to C$45.00 and gave the stock a sector perform rating in a research note on Tuesday, April 30th. Finally, National Bankshares lifted their price objective on IGM Financial from C$44.00 to C$46.00 and gave the company an outperform rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of C$43.17.

IGM Financial Stock Performance

Shares of IGM Financial stock opened at C$37.96 on Friday. The business’s fifty day simple moving average is C$34.74 and its 200-day simple moving average is C$34.56. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26. The firm has a market cap of C$9.04 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. IGM Financial has a 52 week low of C$30.34 and a 52 week high of C$42.02.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). The company had revenue of C$768.80 million during the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a net margin of 31.03% and a return on equity of 14.46%. Equities analysts forecast that IGM Financial will post 3.711039 earnings per share for the current year.

IGM Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.563 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.25 annualized dividend and a yield of 5.93%. IGM Financial’s dividend payout ratio is presently 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.