IGM Financial (TSE:IGM) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

IGM Financial Inc. (TSE:IGM - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$41.80 and traded as high as C$45.15. IGM Financial shares last traded at C$44.99, with a volume of 216,429 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IGM shares. CIBC upped their price objective on shares of IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on IGM Financial from C$39.00 to C$45.00 and gave the company a "hold" rating in a research note on Friday, November 1st. TD Securities lifted their price objective on IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. Scotiabank increased their target price on IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. Finally, BMO Capital Markets lifted their price target on IGM Financial from C$43.00 to C$47.00 in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, IGM Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of C$49.29.

IGM Financial Price Performance

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 business has a 50-day simple moving average of C$46.16 and a 200 day simple moving average of C$41.90. The firm has a market cap of C$10.60 billion, a P/E ratio of 12.62, 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. Investors of record on Tuesday, December 31st will be issued a dividend of $0.563 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.03%. IGM Financial's dividend payout ratio is presently 63.38%.

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.