Analysts Set IGM Financial Inc. (TSE:IGM) Target Price at C$52.29

Shares of IGM Financial Inc. (TSE:IGM) have been given a consensus recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$52.29.

A number of equities analysts recently issued reports on IGM shares. Scotiabank increased their price target on shares of IGM Financial from C$56.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 7th. National Bankshares upped their price objective on shares of IGM Financial from C$56.00 to C$58.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. BMO Capital Markets increased their price target on shares of IGM Financial from C$47.00 to C$49.00 and gave the company a “market perform” rating in a report on Friday, August 8th. Jefferies Financial Group increased their price target on shares of IGM Financial from C$42.00 to C$46.00 in a report on Wednesday, July 30th. Finally, TD Securities raised their target price on shares of IGM Financial from C$55.00 to C$57.00 and gave the stock a “buy” rating in a report on Friday, August 8th.

IGM Financial Stock Performance

Shares of TSE:IGM opened at C$48.21 on Friday. The company has a market cap of C$11.50 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company has a 50-day moving average price of C$44.24 and a 200-day moving average price of C$44.07. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. IGM Financial has a 12 month low of C$36.95 and a 12 month high of C$48.33.

IGM Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be given a dividend of $0.562 per share. This represents a $2.25 annualized dividend and a dividend yield of 4.7%. IGM Financial’s payout ratio is 57.64%.

About IGM Financial

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services.