IGM Financial (TSE:IGM) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

IGM Financial Inc. (TSE:IGM) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$41.15 and traded as high as C$46.21. IGM Financial shares last traded at C$45.91, with a volume of 194,031 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on IGM. TD Securities lifted their target price on IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. CIBC lifted their price target on IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. National Bankshares upped their price objective 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. Jefferies Financial Group lifted their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Scotiabank upped their price target on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$49.29.

IGM Financial Trading Down 0.7 %

The company has a market cap of C$10.86 billion, a PE ratio of 12.93, a PEG ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The company has a 50 day simple moving average of C$45.39 and a two-hundred day simple moving average of C$41.15.

IGM Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s payout ratio is presently 63.38%.

IGM Financial Company Profile

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.