IGM Financial Inc. Announces Quarterly Dividend of $0.56 (TSE:IGM)

IGM Financial Inc. (TSE:IGM - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.563 per share by the financial services provider on Friday, January 31st. This represents a $2.25 annualized dividend and a yield of 5.07%. The ex-dividend date is Tuesday, December 31st.

IGM Financial Stock Performance

Shares of TSE:IGM traded up C$1.02 during trading on Friday, hitting C$44.38. The stock had a trading volume of 356,700 shares, compared to its average volume of 242,341. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. IGM Financial has a 12-month low of C$31.92 and a 12-month high of C$44.85. The stock has a market capitalization of C$10.50 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The stock has a 50-day simple moving average of C$40.92 and a two-hundred day simple moving average of C$38.60.

IGM Financial (TSE:IGM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.95 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The business had revenue of C$816.31 million for the quarter, compared to analysts' expectations of C$826.00 million. On average, equities research analysts expect that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IGM. CIBC increased their price target on IGM Financial from C$47.00 to C$50.00 in a research report on Friday. Scotiabank raised their target price on IGM Financial from C$53.00 to C$56.00 in a report on Friday. Jefferies Financial Group boosted their price target on IGM Financial from C$39.00 to C$45.00 and gave the company a "hold" rating in a report on Friday, November 1st. National Bankshares raised their price objective on shares of IGM Financial from C$47.00 to C$50.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets decreased their target price on shares of IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. 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, IGM Financial has a consensus rating of "Moderate Buy" and an average target price of C$47.14.

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.