BMO Capital Markets Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

IGM Financial (TSE:IGM) had its price objective lifted by BMO Capital Markets from C$43.00 to C$47.00 in a research report report published on Monday morning,BayStreet.CA reports.

IGM has been the topic of a number of other research reports. Jefferies Financial Group raised their price target on IGM Financial from C$39.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, November 1st. National Bankshares lifted their target price on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price target on IGM Financial from C$46.00 to C$47.00 in a research note on Thursday, August 8th. Scotiabank lifted their price objective on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday. Finally, TD Securities upped their price objective on shares of IGM Financial from C$46.00 to C$50.00 in a research report on Monday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$49.29.

IGM Financial Price Performance

Shares of TSE:IGM opened at C$44.38 on Monday. IGM Financial has a 1-year low of C$31.92 and a 1-year high of C$44.85. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The stock has a market cap of C$10.50 billion, a P/E ratio of 12.50, a P/E/G ratio of 4.09 and a beta of 1.53. The firm has a fifty day moving average price of C$41.03 and a 200 day moving average price of C$38.71.

IGM Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.563 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.07%. 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.