IGM Financial (OTCMKTS:IGIFF) Stock Price Crosses Below 50 Day Moving Average of $30.69

IGM Financial Inc. (OTCMKTS:IGIFF – Get Rating) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $30.69 and traded as low as $29.83. IGM Financial shares last traded at $30.01, with a volume of 1,467 shares.

Analyst Ratings Changes

IGIFF has been the subject of several recent research reports. National Bank Financial lifted their price objective on IGM Financial from C$45.00 to C$48.00 in a report on Friday, February 10th. Royal Bank of Canada raised their target price on IGM Financial from C$43.00 to C$46.00 in a research note on Monday, February 13th. CIBC raised their target price on IGM Financial from C$44.00 to C$50.00 in a research note on Tuesday, January 24th. BMO Capital Markets raised their target price on IGM Financial from C$44.00 to C$45.00 in a research note on Friday, February 10th. Finally, Scotiabank raised their target price on IGM Financial from C$45.00 to C$47.00 in a research note on Friday, February 10th.

IGM Financial Stock Down 4.2 %

The firm has a 50 day simple moving average of $30.69 and a 200 day simple moving average of $28.57.

IGM Financial Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th were given a dividend of $0.4097 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a dividend yield of 6.06%. IGM Financial’s dividend payout ratio (DPR) is presently 67.85%.

IGM Financial Company Profile

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IGM Financial, Inc operates as a financial services company, which engages in the management and distribution of mutual funds and other managed asset products. It operates through the following segments: Wealth Management, Asset Management, and Strategic Investments & Other. The Wealth Management segment reflects the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households, which includes the activities of IG Wealth Management and Investment Planning Counsel.