IGM Financial (TSE:IGM) Price Target Raised to C$56.00

IGM Financial (TSE:IGM) had its price target upped by Scotiabank from C$53.00 to C$56.00 in a report published on Friday,BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. Jefferies Financial Group increased their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, November 1st. National Bankshares increased their target price on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reduced their target price on shares of IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.14.

IGM Financial Price Performance

IGM Financial stock opened at C$44.38 on Friday. The company has a market cap of C$10.50 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 4.09 and a beta of 1.53. The firm’s fifty day moving average is C$40.92 and its 200 day moving average is C$38.64. 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 has a 52-week low of C$31.92 and a 52-week high of C$44.85.

IGM Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.563 dividend. This represents a $2.25 annualized dividend and a yield of 5.07%. The ex-dividend date is Tuesday, December 31st. 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.