IGM Financial Inc. (TSE:IGM) Given Consensus Rating of “Moderate Buy” by Brokerages

IGM Financial Inc. (TSE:IGM) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$49.29.

A number of analysts have recently weighed in on IGM shares. CIBC raised their price objective on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. Jefferies Financial Group increased their price objective on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Scotiabank boosted their target price on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. National Bankshares raised their price target on shares of IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price objective on shares of IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th.

IGM Financial Trading Down 0.8 %

TSE:IGM opened at C$47.03 on Friday. The stock has a market capitalization of C$11.13 billion, a price-to-earnings ratio of 13.25, a PEG 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 company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The firm has a 50 day moving average of C$42.82 and a 200 day moving average of C$39.59.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid 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 4.79%. IGM Financial’s payout ratio is currently 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.