IGM Financial (TSE:IGM) PT Raised to C$50.00 at CIBC

IGM Financial (TSE:IGM – Get Rating) had its target price upped by CIBC from C$44.00 to C$50.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

Several other research analysts have also recently issued reports on the company. Barclays upped their price objective on IGM Financial from C$36.00 to C$38.00 in a research report on Monday. National Bankshares reduced their target price on IGM Financial from C$48.00 to C$45.00 and set an outperform rating for the company in a report on Thursday, October 6th. Scotiabank boosted their target price on IGM Financial from C$42.00 to C$44.00 in a report on Friday, November 4th. BMO Capital Markets reduced their target price on IGM Financial from C$54.00 to C$44.00 in a report on Monday, January 16th. Finally, Royal Bank of Canada reduced their target price on IGM Financial from C$44.00 to C$42.00 in a report on Monday, October 24th.

IGM Financial Trading Down 0.1 %

TSE:IGM opened at C$41.16 on Tuesday. The stock has a 50-day simple moving average of C$39.06 and a 200-day simple moving average of C$37.33. The stock has a market cap of C$9.78 billion and a P/E ratio of 10.86. IGM Financial has a 1 year low of C$33.45 and a 1 year high of C$46.37. The company has a debt-to-equity ratio of 37.43, a quick ratio of 0.31 and a current ratio of 2.08.

IGM Financial (TSE:IGM – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The financial services provider reported C$0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.07. The business had revenue of C$827.30 million for the quarter, compared to analyst estimates of C$805.00 million. As a group, analysts anticipate that IGM Financial will post 3.5799998 earnings per share for the current fiscal year.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Thursday, December 29th. IGM Financial’s dividend payout ratio is presently 59.37%.

IGM Financial Company Profile

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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.