IGM Financial (TSE:IGM) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of IGM Financial Inc. (TSE:IGM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$41.15 and traded as high as C$46.21. IGM Financial shares last traded at C$45.91, with a volume of 194,031 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Securities raised their target price on shares of IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. Scotiabank lifted their target price on shares of IGM Financial from C$53.00 to C$56.00 in a research note on Friday, November 8th. National Bankshares upped 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. CIBC boosted their price objective on IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. Finally, Jefferies Financial Group increased their target price on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Stock Up 0.0 %

The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The company has a fifty day moving average of C$45.55 and a two-hundred day moving average of C$41.27. The company has a market cap of C$10.87 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53.

IGM Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.563 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.90%. IGM Financial’s dividend payout ratio is 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.