IGM Financial (OTCMKTS:IGIFF) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

IGM Financial Inc. (OTCMKTS:IGIFF) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $49.31 and traded as high as $54.13. IGM Financial shares last traded at $53.94, with a volume of 13,399 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of IGM Financial in a research note on Monday, January 26th. Scotiabank reiterated a “sector perform” rating on shares of IGM Financial in a research report on Friday, January 30th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of IGM Financial in a research report on Tuesday, February 17th. Finally, TD Securities reiterated a “buy” rating on shares of IGM Financial in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, IGM Financial currently has a consensus rating of “Hold”.

IGM Financial Stock Performance

The firm’s fifty day simple moving average is $49.31 and its 200 day simple moving average is $45.40.

About IGM Financial

IGM Financial Inc is a Canada-based wealth and asset management company that provides a range of financial planning and investment solutions to individual and institutional clients. Through its wholly owned subsidiaries—IG Wealth Management, Mackenzie Investments, and Investment Planning Counsel—the firm offers advisory services, mutual funds, segregated funds, and a suite of managed portfolio solutions designed to meet diverse investor needs. IGM’s business model centers on delivering fee-based and commission-based products through a network of financial advisors and distribution partners across Canada.

The company’s flagship arm, IG Wealth Management, operates one of the largest financial advisor networks in the country, offering advice on retirement planning, tax strategies, estate and legacy planning, and insurance products.