Jefferies Financial Group Increases IGM Financial (TSE:IGM) Price Target to C$54.00

IGM Financial (TSE:IGM) had its price target hoisted by investment analysts at Jefferies Financial Group from C$50.00 to C$54.00 in a report issued on Wednesday, Marketbeat reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price indicates a potential upside of 0.93% from the stock’s previous close.

IGM has been the subject of several other reports. Scotiabank raised their price objective on IGM Financial from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Royal Bank Of Canada lifted their price target on IGM Financial from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a report on Tuesday. BMO Capital Markets lifted their price target on IGM Financial from C$47.00 to C$49.00 and gave the company a “market perform” rating in a report on Friday, August 8th. TD Securities lifted their price target on IGM Financial from C$55.00 to C$57.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, National Bankshares lifted their price target on IGM Financial from C$58.00 to C$60.00 and gave the company an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, IGM Financial currently has a consensus rating of “Hold” and a consensus target price of C$56.00.

IGM Financial Stock Performance

IGM opened at C$53.50 on Wednesday. The firm has a market cap of C$12.62 billion, a PE ratio of 13.05, a P/E/G ratio of 4.09 and a beta of 1.07. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. The business has a fifty day simple moving average of C$51.29 and a 200-day simple moving average of C$46.72. IGM Financial has a fifty-two week low of C$38.89 and a fifty-two week high of C$56.01.

Insider Transactions at IGM Financial

In related news, Director Brent Jason Allen sold 1,451 shares of IGM Financial stock in a transaction on Monday, August 18th. The stock was sold at an average price of C$48.56, for a total transaction of C$70,460.56. Insiders sold a total of 2,840 shares of company stock worth $137,909 over the last ninety days. 66.58% of the stock is currently owned by company 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.