Royal Bank Of Canada Forecasts Strong Price Appreciation for IGM Financial (TSE:IGM) Stock

IGM Financial (TSE:IGM) had its price target raised by analysts at Royal Bank Of Canada from C$55.00 to C$61.00 in a research note issued to investors on Monday,BayStreet.CA reports. Royal Bank Of Canada’s price target would indicate a potential upside of 8.43% from the stock’s previous close.

IGM has been the topic of a number of other reports. National Bankshares boosted their target price on IGM Financial from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Scotiabank lifted 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, October 28th. BMO Capital Markets increased 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 report on Friday, August 8th. Jefferies Financial Group raised their target price on shares of IGM Financial from C$50.00 to C$54.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Finally, TD Securities boosted their price target on shares of IGM Financial from C$57.00 to C$64.00 in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, IGM Financial currently has an average rating of “Hold” and an average price target of C$61.83.

IGM Financial Stock Up 0.3%

Shares of IGM stock opened at C$56.26 on Monday. The company’s fifty day simple moving average is C$52.19 and its two-hundred day simple moving average is C$47.48. IGM Financial has a 52 week low of C$38.89 and a 52 week high of C$56.62. The stock has a market cap of C$13.29 billion, a P/E ratio of 13.72, a PEG ratio of 4.09 and a beta of 1.06. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24.

Insider Transactions at IGM Financial

In related news, Director Brent Jason Allen sold 1,451 shares of the firm’s 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 2,840 shares of company stock valued at $137,909 in the last ninety days. 66.58% of the stock is 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.