IGM Financial (TSE:IGM) Price Target Raised to C$50.00 at TD Securities

IGM Financial (TSE:IGM) had its price target upped by TD Securities from C$46.00 to C$50.00 in a research note issued to investors on Monday,BayStreet.CA reports.

A number of other analysts have also recently commented on the company. BMO Capital Markets lowered their price target on IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Scotiabank lifted their target price on IGM Financial from C$53.00 to C$56.00 in a report on Friday. Jefferies Financial Group increased their price target on shares of IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Finally, National Bankshares raised their target price on shares of IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Stock Performance

TSE IGM opened at C$44.38 on Monday. IGM Financial has a 12-month low of C$31.92 and a 12-month high of C$44.85. The company has a fifty day simple moving average of C$41.03 and a two-hundred day simple moving average of C$38.71. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The stock has a market cap of C$10.50 billion, a P/E ratio of 12.50, a P/E/G ratio of 4.09 and a beta of 1.53.

IGM Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s dividend payout ratio (DPR) is presently 63.38%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.