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

IGM Financial Inc. (TSE:IGMGet 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:IGMGet 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.

Recommended Stories

Analyst Recommendations for IGM Financial (TSE:IGM)

Receive News & Ratings for IGM Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IGM Financial and related companies with MarketBeat.com's FREE daily email newsletter.