IGM Financial (TSE:IGM) Sets New 12-Month High – What’s Next?

IGM Financial Inc. (TSE:IGM)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$41.45 and last traded at C$41.41, with a volume of 241326 shares traded. The stock had previously closed at C$41.43.

Analysts Set New Price Targets

Several research firms recently weighed in on IGM. Scotiabank boosted their target price on IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. National Bankshares upped their price objective on shares of IGM Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada upped their price target on shares of IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. BMO Capital Markets dropped their target price on shares of IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th. Finally, Jefferies Financial Group raised their price objective on shares of IGM Financial from C$38.00 to C$39.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$43.71.

IGM Financial Trading Up 0.8 %

The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The company’s 50-day moving average is C$39.15 and its 200-day moving average is C$37.46. The firm has a market cap of C$9.88 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing the consensus estimate of C$0.95 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The firm had revenue of C$816.31 million for the quarter, compared to the consensus estimate of C$826.00 million. On average, research analysts predict that IGM Financial Inc. will post 4.006816 earnings per share for the current year.

IGM Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 31st will be paid a dividend of $0.563 per share. The ex-dividend date is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.40%. IGM Financial’s dividend payout ratio (DPR) is presently 63.38%.

IGM Financial Company Profile

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.