IGM Financial Inc. (TSE:IGM) Given Average Recommendation of “Hold” by Analysts

IGM Financial Inc. (TSE:IGM – Get Rating) has earned an average recommendation of “Buy” from the eleven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$55.67.

A number of research firms recently weighed in on IGM. National Bankshares dropped their price target on IGM Financial from C$62.00 to C$57.00 and set an “outperform” rating on the stock in a research note on Thursday, April 7th. Canaccord Genuity Group increased their price target on IGM Financial from C$55.00 to C$57.00 in a research note on Monday, February 14th. National Bank Financial increased their price objective on IGM Financial to C$62.00 and gave the stock an “outperform” rating in a research report on Monday, January 10th. Barclays lowered their price objective on IGM Financial from C$48.00 to C$43.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 26th. Finally, Scotiabank lowered their price objective on IGM Financial from C$55.00 to C$51.00 in a research report on Tuesday.

IGM traded down C$2.91 during trading hours on Friday, reaching C$37.05. The company’s stock had a trading volume of 137,148 shares, compared to its average volume of 355,014. IGM Financial has a 52 week low of C$37.05 and a 52 week high of C$51.68. The company’s 50-day moving average is C$43.56 and its 200-day moving average is C$45.74. The company has a debt-to-equity ratio of 35.37, a quick ratio of 0.43 and a current ratio of 2.23. The firm has a market cap of C$8.88 billion and a PE ratio of 9.21.

IGM Financial (TSE:IGM – Get Rating) last posted its quarterly earnings results on Thursday, February 10th. The financial services provider reported C$1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of C$1.08. The business had revenue of C$902.10 million during the quarter, compared to the consensus estimate of C$894.00 million. Equities analysts anticipate that IGM Financial will post 4.5900001 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.563 per share. This is a positive change from IGM Financial’s previous quarterly dividend of $0.56. This represents a $2.25 annualized dividend and a dividend yield of 6.08%. The ex-dividend date was Wednesday, March 30th. IGM Financial’s dividend payout ratio is 55.15%.

In related news, Director James Patrick O’sullivan bought 11,000 shares of IGM Financial stock in a transaction dated Tuesday, February 15th. The shares were bought at an average cost of C$45.75 per share, with a total value of C$503,250.00. Following the acquisition, the director now owns 26,763 shares in the company, valued at approximately C$1,224,407.25.

About IGM Financial (Get Rating)

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program; IG Wealth Management Advisor Portal, a customer relationship management platform; and IG Wealth Management's dealer platform, which provides increased automation and supports both MFDA and IIROC licensed advisors, as well as new products on its investment dealer platform.

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