IGM Financial (OTCMKTS:IGIFF) Stock Price Passes Above 50-Day Moving Average of $28.16

IGM Financial Inc. (OTCMKTS:IGIFFGet Rating) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $28.16 and traded as high as $29.22. IGM Financial shares last traded at $29.22, with a volume of 237 shares traded.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada dropped their price objective on shares of IGM Financial from C$53.00 to C$47.00 in a research note on Monday, May 9th. TD Securities lowered their target price on shares of IGM Financial from C$51.00 to C$48.00 in a research note on Monday, May 9th. BMO Capital Markets boosted their target price on shares of IGM Financial from C$41.00 to C$44.00 in a research note on Wednesday, May 4th. Scotiabank lowered their target price on shares of IGM Financial from C$47.00 to C$42.00 in a research note on Tuesday, July 26th. Finally, Canaccord Genuity Group lowered their target price on shares of IGM Financial from C$42.00 to C$40.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.00.

IGM Financial Stock Down 0.1 %

The stock’s 50 day moving average is $28.16 and its two-hundred day moving average is $31.98.

IGM Financial Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were issued a $0.4368 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a yield of 6.35%.

IGM Financial Company Profile

(Get Rating)

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program; IG Wealth Management Advisor Portal, a customer relationship management platform; and IG Wealth Management's dealer platform, which provides increased automation and supports both MFDA and IIROC licensed advisors, as well as new products on its investment dealer platform.

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