IGM Financial (TSE:IGM) Stock Crosses Above 200 Day Moving Average of $35.86

IGM Financial Inc. (TSE:IGM - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$35.86 and traded as high as C$37.57. IGM Financial shares last traded at C$37.44, with a volume of 92,949 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of IGM Financial from C$39.00 to C$40.00 in a research note on Monday, May 6th. CIBC upped their target price on IGM Financial from C$42.00 to C$45.00 and gave the stock an "outperform" rating in a research report on Friday, May 3rd. Royal Bank of Canada lifted their price target on IGM Financial from C$44.00 to C$45.00 in a report on Friday, May 3rd. Scotiabank increased their price objective on IGM Financial from C$44.00 to C$45.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 30th. Finally, TD Securities lifted their price objective on shares of IGM Financial from C$42.00 to C$43.00 and gave the company a "buy" rating in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$44.00.

IGM Financial Stock Performance

The stock has a market cap of C$9.00 billion, a P/E ratio of 11.74, a P/E/G ratio of 4.04 and a beta of 1.55. The firm has a 50 day moving average of C$37.26 and a two-hundred day moving average of C$35.88. The company has a debt-to-equity ratio of 37.00, a quick ratio of 0.31 and a current ratio of 2.15.

IGM Financial (TSE:IGM - Get Free Report) last announced its earnings results on Thursday, May 2nd. The financial services provider reported C$0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.91 by C$0.03. IGM Financial had a net margin of 27.67% and a return on equity of 11.63%. The business had revenue of C$811.67 million for the quarter, compared to analyst estimates of C$796.65 million. On average, research analysts predict that IGM Financial Inc. will post 3.8664564 EPS for the current fiscal year.

IGM Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, June 28th. IGM Financial's payout ratio is presently 69.66%.

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.