Brokerages Set IGM Financial Inc. (TSE:IGM) Price Target at C$49.29

Shares of IGM Financial Inc. (TSE:IGM - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$49.29.

A number of equities analysts recently issued reports on IGM shares. TD Securities raised their price objective on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. CIBC boosted their price objective on shares of IGM Financial from C$47.00 to C$50.00 in a research report on Friday, November 8th. BMO Capital Markets raised their target price on IGM Financial from C$43.00 to C$47.00 in a report on Monday, November 11th. National Bankshares boosted their price target on IGM Financial from C$47.00 to C$50.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on IGM Financial from C$39.00 to C$45.00 and gave the stock a "hold" rating in a research note on Friday, November 1st.

IGM Financial Stock Performance

IGM stock traded up C$0.02 during trading on Tuesday, reaching C$46.44. The stock had a trading volume of 57,695 shares, compared to its average volume of 261,281. The stock's 50 day moving average is C$45.04 and its two-hundred day moving average is C$40.89. The firm has a market cap of C$10.99 billion, a PE ratio of 13.08, a PEG ratio of 4.09 and a beta of 1.53. IGM Financial has a 52 week low of C$32.95 and a 52 week high of C$47.96. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99.

IGM Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 4.85%. 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.