Royal Bank Of Canada Increases IGM Financial (TSE:IGM) Price Target to C$52.00

IGM Financial (TSE:IGM) had its price target lifted by Royal Bank Of Canada from C$49.00 to C$52.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s target price indicates a potential downside of 2.16% from the company’s previous close.

Several other analysts also recently issued reports on the stock. National Bankshares increased their price objective on shares of IGM Financial from C$56.00 to C$58.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Scotiabank upped their target price on shares of IGM Financial from C$56.00 to C$57.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Jefferies Financial Group raised their price target on shares of IGM Financial from C$42.00 to C$46.00 in a report on Wednesday, July 30th. TD Securities upped their price objective on shares of IGM Financial from C$55.00 to C$57.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, BMO Capital Markets raised their target price on IGM Financial from C$47.00 to C$49.00 and gave the company a “market perform” rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$53.71.

IGM Financial Stock Down 2.0%

Shares of IGM Financial stock opened at C$53.15 on Wednesday. The company has a fifty day moving average price of C$50.18 and a 200 day moving average price of C$45.86. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. IGM Financial has a twelve month low of C$38.89 and a twelve month high of C$54.99. The stock has a market cap of C$12.53 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 4.09 and a beta of 1.07.

Insiders Place Their Bets

In related news, Director Brent Jason Allen sold 1,451 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of C$48.56, for a total value of C$70,460.56. Insiders sold 2,840 shares of company stock valued at $137,909 over the last three months. 66.58% of the stock is owned by insiders.

About IGM Financial

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services.