IGM Financial (TSE:IGM) Price Target Raised to C$64.00 at TD Securities

IGM Financial (TSE:IGM) had its target price increased by TD Securities from C$57.00 to C$64.00 in a report published on Tuesday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on IGM. Royal Bank Of Canada lifted their price target on IGM Financial from C$52.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. National Bankshares lifted their price target on IGM Financial from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. BMO Capital Markets lifted their price target on IGM Financial from C$47.00 to C$49.00 and gave the stock a “market perform” rating in a research note on Friday, August 8th. Jefferies Financial Group lifted their price target on IGM Financial from C$50.00 to C$54.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Finally, Scotiabank lifted their price target 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, October 28th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$57.00.

IGM Financial Stock Performance

Shares of TSE:IGM opened at C$54.30 on Tuesday. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. The business’s 50 day moving average price is C$51.62 and its 200-day moving average price is C$47.04. The firm has a market capitalization of C$12.81 billion, a PE ratio of 13.24, a P/E/G ratio of 4.09 and a beta of 1.06. IGM Financial has a 1 year low of C$38.89 and a 1 year high of C$56.01.

IGM Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 31st were given a $0.562 dividend. This represents a $2.25 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, September 26th. IGM Financial’s dividend payout ratio is presently 54.88%.

Insider Buying and Selling

In other IGM Financial 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 value of C$70,460.56. Insiders sold a total of 2,840 shares of company stock valued at $137,909 in the last quarter. 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.