TD Securities Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

IGM Financial (TSE:IGM) had its price target boosted by TD Securities from C$46.00 to C$50.00 in a research report released on Monday,BayStreet.CA reports.

Several other analysts also recently issued reports on the stock. CIBC increased 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 lowered their price target on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. National Bankshares lifted their price target 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. Scotiabank upped their price objective on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their target price on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Price Performance

Shares of TSE IGM opened at C$45.63 on Monday. 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 has a 1-year low of C$32.95 and a 1-year high of C$45.74. The company has a market capitalization of C$10.80 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 4.09 and a beta of 1.53. The business has a 50-day moving average of C$41.38 and a 200-day moving average of C$38.95.

IGM Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.563 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.25 annualized dividend and a dividend yield of 4.94%. IGM Financial’s payout ratio is 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.