IGM Financial (TSE:IGM) PT Raised to C$43.00 at TD Securities

IGM Financial (TSE:IGM) had its price objective boosted by TD Securities from C$42.00 to C$43.00 in a report issued on Monday, BayStreet.CA reports. TD Securities currently has a buy rating on the financial services provider’s stock.

A number of other research firms also recently commented on IGM. Royal Bank of Canada boosted their price target on IGM Financial from C$44.00 to C$45.00 in a research note on Friday, May 3rd. Scotiabank upped their price target on shares of IGM Financial from C$44.00 to C$45.00 and gave the stock a sector perform rating in a report on Tuesday, April 30th. BMO Capital Markets lifted their price objective on shares of IGM Financial from C$39.00 to C$40.00 in a research note on Monday. National Bankshares upped their target price on IGM Financial from C$44.00 to C$46.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Finally, CIBC raised their target price on IGM Financial from C$42.00 to C$45.00 and gave the company an outperform rating in a report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of C$44.00.

IGM Financial Stock Performance

TSE IGM opened at C$38.41 on Monday. The firm has a 50-day moving average price of C$34.90 and a two-hundred day moving average price of C$34.68. IGM Financial has a 12-month low of C$30.34 and a 12-month high of C$42.02. The company has a market capitalization of C$9.15 billion, a P/E ratio of 9.90, a P/E/G ratio of 4.24 and a beta of 1.58. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26.

IGM Financial (TSE:IGM) last issued its quarterly earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). The company had revenue of C$768.80 million for the quarter, compared to analyst estimates of C$773.00 million. IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. Analysts anticipate that IGM Financial will post 3.711039 earnings per share for the current year.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.563 per share. The ex-dividend date is Friday, June 28th. This represents a $2.25 dividend on an annualized basis and a yield of 5.86%. IGM Financial’s dividend payout ratio is currently 57.99%.

IGM Financial Company Profile

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.