Analysts Set IGM Financial Inc. (TSE:IGM) Target Price at C$49.29

IGM Financial Inc. (TSE:IGM) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$49.29.

IGM has been the topic of several analyst reports. 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. Royal Bank of Canada lifted their target price on IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Scotiabank lifted their target price on IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. TD Securities lifted their target price on IGM Financial from C$46.00 to C$50.00 in a research report on Monday, November 11th. Finally, CIBC lifted their target price on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th.

IGM Financial Trading Up 0.4 %

TSE IGM opened at C$47.68 on Friday. The company has a market cap of C$11.28 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 4.09 and a beta of 1.53. IGM Financial has a 52 week low of C$32.95 and a 52 week high of C$47.83. The business has a 50 day moving average price of C$43.68 and a 200-day moving average price of C$40.02. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99.

IGM Financial Dividend Announcement

The company also recently declared 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 is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.72%. IGM Financial’s dividend payout ratio is presently 63.38%.

About IGM Financial

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.