IGM Financial Inc. (TSE:IGM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of IGM Financial Inc. (TSE:IGM) have received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$49.29.

IGM has been the subject of a number of recent research reports. National Bankshares increased their price objective on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Scotiabank increased their price target on IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, November 1st. TD Securities raised their target price on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. Finally, CIBC boosted their price target on shares of IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th.

IGM Financial Stock Down 1.1 %

TSE IGM opened at C$46.25 on Tuesday. IGM Financial has a 12 month low of C$32.95 and a 12 month high of C$47.96. The company has a market capitalization of C$10.95 billion, a P/E ratio of 13.03, a PEG ratio of 4.09 and a beta of 1.53. The company’s 50 day simple moving average is C$45.32 and its 200 day simple moving average is C$41.09. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31.

IGM Financial Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, December 31st. IGM Financial’s dividend payout ratio is currently 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.