IGM Financial (TSE:IGM) Stock Passes Above 200 Day Moving Average of $38.66

IGM Financial Inc. (TSE:IGM – Get Rating) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$38.66 and traded as high as C$40.66. IGM Financial shares last traded at C$40.51, with a volume of 648,022 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on IGM. Scotiabank raised their target price on shares of IGM Financial from C$45.00 to C$47.00 in a research note on Friday, February 10th. BMO Capital Markets raised their target price on shares of IGM Financial from C$44.00 to C$45.00 in a research note on Friday, February 10th. Royal Bank of Canada raised their target price on shares of IGM Financial from C$43.00 to C$46.00 in a research note on Monday, February 13th. TD Securities raised their target price on shares of IGM Financial from C$43.00 to C$44.00 and gave the stock a “hold” rating in a research note on Monday, February 13th. Finally, Canaccord Genuity Group lifted their price target on shares of IGM Financial from C$43.00 to C$46.00 in a research report on Monday, February 13th.

IGM Financial Trading Up 0.5 %

The stock has a market cap of C$9.63 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 14.05 and a beta of 1.56. The company has a debt-to-equity ratio of 36.63, a quick ratio of 0.31 and a current ratio of 1.84. The company’s 50-day moving average price is C$41.61 and its 200 day moving average price is C$38.66.

IGM Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 28th will be given a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Thursday, March 30th. IGM Financial’s payout ratio is 64.29%.

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.