IGM Financial (TSE:IGM) Price Target Raised to C$45.00 at Royal Bank of Canada

IGM Financial (TSE:IGM) had its price target upped by Royal Bank of Canada from C$44.00 to C$45.00 in a research note issued to investors on Friday, BayStreet.CA reports.

IGM has been the topic of a number of other reports. National Bankshares upped their price target on IGM Financial from C$44.00 to C$46.00 and gave the stock an outperform rating in a research note on Monday, February 5th. TD Securities boosted their price objective on IGM Financial from C$41.00 to C$42.00 in a report on Thursday, April 25th. Finally, Scotiabank raised their target price on IGM Financial from C$44.00 to C$45.00 and gave the company a sector perform rating in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$44.00.

IGM Financial Stock Performance

Shares of IGM Financial stock opened at C$38.12 on Friday. The business’s fifty day simple moving average is C$34.79 and its 200-day simple moving average is C$34.61. The company has a quick ratio of 0.31, a current ratio of 1.94 and a debt-to-equity ratio of 38.26. The firm has a market cap of C$9.08 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 4.24 and a beta of 1.58. IGM Financial has a 52 week low of C$30.34 and a 52 week high of C$42.02.

IGM Financial (TSE:IGM) last posted its earnings results on Thursday, February 15th. The financial services provider reported C$0.84 EPS for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.05). IGM Financial had a net margin of 31.03% and a return on equity of 14.46%. The company had revenue of C$768.80 million during the quarter, compared to analyst estimates of C$773.00 million. Equities analysts forecast that IGM Financial will post 3.711039 earnings per share for the current year.

IGM Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.563 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.25 dividend on an annualized basis and a yield of 5.91%. IGM Financial’s dividend payout ratio (DPR) is presently 57.99%.

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.